After congestion toll win, Gov. Hochul should say ‘No’ to casino-crutch income plan
Scare New York electeds off one unhealthy thought and they’ll instantly batten on one other: Witness the cadre of state Meeting members demanding a quick observe for the state’s new on line casino licenses to make up for the income misplaced from the now-dead congestion tolls.
Assemblyman Gary Pretlow (D-Mt. Vernon), who co-chairs the Racing and Wagering Committee, is vocal about the necessity to get the playing dens up and operating as quickly as attainable.
“We’ve to carry the on line casino offers to fruition — the MTA wants the cash,” he advised The Submit; co-chair state Sen. Joe Addabo (D-Queens) is equally keen to begin stacking chips.
In order that they and others need Hochul’s John Hancock on a just-passed Meeting invoice to grease the license-awarding path.
The MTA might have money, however ramming by on line casino offers to offer it’s got to be among the many worst concepts but to return from our legislative overlords — and it has some very stiff competitors.
First off, the licensing course of stinks to excessive heaven: The heavy wallets of the bidders — for the licenses in query, the minimal anticipated bid is $500 million on as much as heaven is aware of how a lot — draw grasping pols like trash attracts flies.
The fat-cat gaming operators and real-estate companies in play for the licenses have an enormous incentive to cough up massive for the marketing campaign coffers of politicians with affect over the method.
And certainly the checklist of would-be operators reads like a rolodex of the linked and highly effective: Steves Cohen and Wynn, Associated Cos., SL Inexperienced and Caesars.
Cohen has handed Gov. Hochul megabucks; so has SL Inexperienced chief Marc Holliday.
Equally essential, casinos basically are main financial busts within the Empire State.
Ex-Gov. Andrew Cuomo tried to promote them as massive job-creators, however even a cursory have a look at the $200 million shortfall that slammed upstate casinos in 2018 proves they’re not all they’re cracked as much as be.
And new casinos have a tendency to not generate new revenues however merely cannibalize gamblers from different casinos (as witness the dozen-plus casinos which have died off in Atlantic Metropolis).
And that’s to say nothing of the truth that, given an more and more lawless atmosphere in Gotham, casinos can be enormous downside zones for prostitution, medicine and normal public dysfunction.
Assuredly not glamorous, James Bond-style institutions.
Hochul deserves actual credit score for standing towards prog insanity on congestion pricing; let’s hope she exhibits the identical backbone on this inanity.
