Last Friday, State Comptroller Tom DiNapoli released a report urging caution about expanded gambling in the state, and the state’s reliance on gambling revenue. The report finds that the state’s commercial casino expansion is likely to enhance state revenue and create jobs, but also notes that economic benefits may be uneven throughout the state, with gains in areas with casinos offset by job losses elsewhere.
Comptroller DiNapoli said:
“Every day, New Yorkers scratch off tickets or play the odds in hopes of hitting a big winner. The payoff for the state is significant – billions are coming into state coffers. In fact, New York collects more in gambling revenues than any other state in the nation. Now with a new expansion underway, more casinos will mean more gaming revenue and new jobs, but the long-term impact for the state remains unclear. It will inevitably create both winners and losers in the years ahead.”
The state’s deadline for final bids for up to four casino licenses in three Upstate regions is June 30th.