New York City Is a Natural Gambling Destination
New York City is often considered by residents, tourists, and visitors alike as the state capital and the entertainment capital of the United States. And with New York State seemingly desperately searching for new sources of income, gambling interests and property developers are attempting to resurrect interest in an old proposal: a casino at New York City’s Queens Center. The idea isn’t that recent. Casino operators have been trying to capitalize on the New York City real estate market for years, focused on the city’s dense, usually tourist-rich inner ring, which they view as their target market.
The casino has long been rumored as a possible solution to the strained balance of tourism and development in the region. The casino was originally planned for New York City’s Staten Island, but the idea fizzled when developers weren’t interested. Today, it appears that a new york-new York hotel is looking into turning the proposal into a reality. According to the Associated Press, developer hedge fund billionaire John Catsolit is planning to open a casino and a new museum in the Queens Center. Although no timeline has been given by the developers, the project is said to be in the early stages.
In an unrelated move, the New York Post is getting into the casino business, too. According to the Post, the proposed New York-based chain will offer “a high-end virtual gaming experience using state-of-the-art technology, wireless payment processing and real-time bidding.” The New York Post is one of the largest newspapers in the country, and they recently sold their stake in the New York Times to a California based publisher for almost $400 million. The sale came despite reports that the New York Times was on the verge of folding. So, is the move to provide the New York City audience with even more casino opportunities good news for New Yorkers?
No, not quite yet. Even though the New York Post is involved in the new mr. pretlow development, it isn’t clear how the New York State senator from Long Island will get into any of the casino tables. Fortunately, the gaming commission has placed a number of requirements on prospective licensees. First, it requires Mrs. pretlow and his partners to seek a gaming license through the state’s department of state as they seek a casino license in the new city. The gaming commission also requires the proposed operators to submit plans for each casino guest room, which will have to go through review. Review, however, is only one part of a lengthy process which involves many other steps.
For instance, it isn’t certain whether the casino licenses will be approved by the state or if the developers will need to go through a city planning commission before being issued a permit to proceed with construction. There is also no clear answer as to how soon casino tables could start opening in the new city. Mr. pretlow and the developers hope to begin testing table games by the end of this summer at three locations – two in New York City and one each in Atlantic City, Brooklyn, Queens and Staten Island. A final decision on opening dates is still expected by the end of this year at three different casino resort locations. Many people wonder why the developers are not waiting until the winter when there is normally less demand for casino gaming.
Many of the people who read about how the Mr. pretlow group is coming to New York City may be discouraged from visiting a casino because they fear the prices are too high. However, as many casinos have raised rates recently to increase their revenues, the casino game players can now enjoy a lower rate on gaming fees. Mr. pretlow has been quoted as saying that the lowest hourly rate will be at a maximum of ninety-nine cents per hour. He believes that the final hourly rate will be more like eighty cents per hour. These new proposed rates are still below what many of the world’s casino operators charge, but some of the world’s most prominent casino owners are now offering table games at rates below those in New York City and other northern locations.
The developers of the projects hope to attract a diverse clientele by offering various forms of casino gambling at affordable prices. Mr. pretlow hopes that casino game lovers will travel to the new city and that others will follow the example of New Yorkers who has already made the leap and visited some of these new casino gambling facilities. Many New Yorkers are said to be very excited about this whole “consulting” process which promises to offer them more casino games and a more affordable way of enjoying casino gaming. This is part of the “reinventing the wheel” strategy that casino experts are using to revitalize their business in the New York area.
A lot of the excitement stems from the fact that a lot of people do not actually know how to enjoy casino gambling properly. If they only knew how easy it was to go to New York and play a few slots, then perhaps they would be more inclined to give it a try. The developers say that they will be holding monthly seminars for casino gaming no matter how long it takes for them to develop games such as internet casino or online poker gambling. They also have big plans for the New York casino industry in the years to come. They claim that the result of all this foresight is that New York City residents and businesses will be enjoying casino gaming at prices that are more affordable than ever before.