New York state grants three casino licences
Three licences have been awarded to successful casino bids in New York.
The three winning candidates are Montreign Resort and Casino, Rivers Casino and Resort, and Lago Resort Casino, who have beaten 13 other bids.
A meeting was held between members of the New York Gaming Facility Location Board on Wednesday, where it was decided that only three licenses would be issued, with a previously planned fourth licence not approved in order to protect the market space for the other three.
Caesars Entertainment, Genting and Churchill Downs are among the casino operators that have not been selected, following a total of more than $11m being spent on lobbying campaigns by the 16 bids.
The three successful licensees will be subject to background checks and environmental reviews before official licensing can be granted by the state’s Gaming Commission.
Once that process has been completed, Montreign will be able to build an 18-story resort in Thompson in the Catskills, Rivers will develop a $300m resort in Schenectady, and Lago will commence with a $425m project in Tyre.
The state plans to generate more than $300m in tax revenue as a result of the projects
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