Sunday, February 19, 2012

Double the money, double the fun?

From the NY Post:

An expanded racino at Aueduct would more than double the state’s annual take from the racetrack gambling hall, raising the projected payout to $700 million, The Post has learned.

Gov. Cuomo favors expanding the racino in exchange for its private operator, the Genting Group, spending $4 billion to build what would be the nation’s largest convention center at the Queens site.

A racino expansion would net the state more than $700 million per year by a “conservative estimate” based on the state’s analysis of Genting’s projections, according to a senior Cuomo administration official.

The current racino, without the expansion, is estimated to bring the state $350 million a year.

The state takes 70 percent of racino revenues, but would take a smaller cut on new machines, said Cuomo aide Howard Glaser.


Anonymous said...

Look at the low lives at this racino and the surrounding neighborhood. This is absolutely not a place you would want a convention center. In fact it's the last place. The area is a dump. And at night it's damn scary.

Anonymous said...

"The area is a dump. And at night it's damn scary."
So is A.C. but that doesn't stop people from driving in to throw their money away.

Anonymous said...

The State would take a smaller cut, WHAT? No way - we are in the cat-bird seat and we should not give away the store to Gentry - in fact we should bring in competition to bid on this and we should demand a fixed cut we will be happy with. SMALLER CUT - give me a break - the people are not fools!!!!!

Anonymous said...

Demand that Gentry pay a higher cut and cough up additional 4Billion for shorter term. If not - bring in bidders to build adjacent to Gentry as competition is a wonderful thing. Gambling will always be around so make it legal, put a few numbers/card games out of buisness and tax the legal Co to death to make up for our State's shortfalls. In the interim all the day trippers will instead enjoy a quick ride nearby - have buffet and keep money in NYS instead of elsewhere. In fact I would like to see those from Conn & NJ come here for a change!

Auntie Invasion said...

Why is there money for casinos but not hospitals?
why is there money for casinos but not decent housing for poor people?