Race is On for New York State Casino Licenses

Even as three New Jersey hotel/casinos find themselves facing bankruptcy, the race is on to build new casinos in New York State. According to a story in The New York Times, 17 companies are vying to get licenses to build casinos in locations all over the state. The biggest competition is in the Catskills, where at least two proposed projects would be built on the grounds of the now-closed Concord resort.

However, the story adds, attention has turned toward six proposals for casinos in Orange County, which would presumably be able to draw on New York City's tourist population.

The story adds:

"While the number of gambling operations has been swelling in New York, Pennsylvania, and Massachusetts, casino revenues are sliding in New Jersey and Connecticut.

But that has not kept developers and gambling operators from spending millions on proposals for New York, where there are already five Indian casinos and nine racetracks with electronic slot machines and table games."

The state plans to announce the winners in the fall. For all the details, go to the URL listed below.