NYC Casino License Battle Pits Developers Against Gambling Skeptics

NYC Casino License Battle Pits Developers Against Gambling Skeptics



NYC Casino License Battle Pits Developers Against Gambling Skeptics

Vicki Been, the chair of New York’s Gaming Facility Location Board, says she’s never been to a casino.

“That’s nowhere I want to spend my time,” said Been, a former deputy mayor for housing and economic development for New York City. She now leads the board that will decide which three of eight high-profile bidders — Mets owner Steve Cohen and MGM Resorts International among them — will win a license to operate a casino in downstate New York.

The initial bids are due Friday. To win backing, the proposals make big promises: Thousands of housing units, green spaces, and lots and lots of jobs. And the estimated payoff for the owners of three successful projects in the most populous US city is a whopping $4.4 billion in annual gambling revenue, according to Spectrum Gaming Group.


www.bloomberg.com
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