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NY Gov makes gaming part of plans for 2012

January 04, 2012

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New York Gov. Andrew Cuomo has made building the largest convention center in the nation at Aqueduct Racetrack one of his major economic initiatives. In his 2012 State of the State speech on Wednesday, Cuomo noted that the Jacob Javits Convention Center on Manhattan’s West Side is only 12th in the nation in size, and thus not competitive.
Cuomo said the state is pursuing a joint venture with Genting, the gaming development company which has resurrected Aqueduct, “to complete this vision.” The project will require $4 billion in private investment, Cuomo added.
Under the title of his “Second Round of Economic Development,” Cuomo said the state must pursue a “comprehensive approach” to casino gaming.

“It’s not a question of whether we should have gaming in New York—the fast is we already do. North Americans have five casinos in New York and we have nine racinos at our racetracks. We don’t fully realize it, regulate it, or capitalize on it, but we have gaming.” 

Meanwhile, in an editorial published Jan. 3, The Washington Post has called for Maryland state legislators to resist attempts to advance legalization of slots at Rosecroft Raceway even though some are calling for proceeds to be used to build a new hospital and provide health care in the area.

“Under current projections, recently downsized by legislative analysts, the best that can be hoped for is $475 million in tax revenue from slots — over the next five years. Not exactly a cure-all in the context of the $30 billion in revenue the state will collect this year alone,” stated the Post editorial.

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