The First Guess: Lotto Nation by Keith Olbermann - FOK News Channel

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Genting Wants More Than 4,500 VLTs by James M. Odato - Capitol Confidential

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It has yet to open its Aqueduct race track racino, but Genting officials this morning already started talking about currently illegal expansion to allow for Las Vegas-like casino games.

Michael Speller, president of Genting’s proposed racino in Queens — named Resorts World New York — told a Senate racing and wagering hearing that he foresees no obstacles to opening the new facility by midsummer. But he told the Senate panel that it would be swell for Aqueduct, the state and the other racinos statewide to offer table games.

He said the competition in New Jersey, Pennsylvania and Connecticut can all offer such casino games, and it would be wise for New York to do the same to keep revenues in the Empire State, Speller said. Genting entered into a contract with the state to become a Division of the Lottery franchise offering up to 4,500 video lottery terminals at Aqueduct.

“I agree with you,” said Senate Committee on Racing, Wagering and Gaming Chairman John Bonacic, R-Mount Hope. He said he would like a constitutional amendment to allow for such additional gambling. He also mourned the fact that past attempts to change the Constitution to accommodate for casinos all failed.

“I have visited those places you refer to, and they’re all eating our lunch,” Bonacic said.

Other participants in the hearing on the future of gambling in New York included the New York Racing Association, which suggested that Off-Track Betting corporations should be working with NYRA for operational efficiencies and that the racing and wagering model in New York must be restructured to avoid disaster. NYRA President Charles Hayward said that there should be no concern that the Saratoga meet won’t occur this year. Last year his calls for financial help from the state set off speculation that the summer racing schedule would be in jeopardy. Others spoke about their interest in having the OTBs consolidate. Bonacic said he suspects a bill calling for that will emerge.

Assembly Member Mike Miller Says No to Casino In Sullivan County

Not all casinos are created equal. As a member of the New York State Assembly Racing and Wagering Committee, it has come to my attention that the Stockbridge-Munsee Native American tribe has submitted a proposal to build a casino in Sullivan County. If this casino is built it will cost the state over $400 million. I will fight this tooth and nail for the good of New York City and New York State.

The race track casino industry raises $1 billion for the State of New York every year. Due to federal entitlements, Native American tribes can open casinos that are exempt from many taxes. These casinos do not pay taxes on table games. They only contribute 25% on slot machines as opposed to the 60-70% collected from Video Lottery Terminals (VLTs). Native American casinos are given advantages that other wagering businesses, including the Aqueduct Racino, do not receive. As it stands, 62 cents of every dollar received from our racinos goes back to the State. 42 cents goes to funding education, 10 cents goes to lottery administration, 9 cents goes to horse racing purses, and 1 cent goes to horse breeding. While our current race track casinos pay 62 cents on the dollar, the Native American casinos pay just 20 cents on the dollar.

If the Stockbridge-Munsee casino is built, the State is projected to lose $407 million dollars. This amounts to a $188 million loss in State education funding, a $127 million loss in horse racing industry support, and the loss of over 900 jobs. This casino would kick the New York State economy while it is already $10 billion down. Our existing race track casinos could not overcome the huge advantage given to the Stockbridge-Munsee Native American Tribe. The construction of this casino would cost jobs, funding to education, and the economic well-being of the State. This plan is bad for New York City, it is bad for New York State and this is why my vote is “no.”