On-line poker took a significant blow recently when it was left out of New York State’s spending budget. Although things may seem as if online poker will not be legalized, there might still be a glimmer of hope.
Hope Springs Eternal
Assemblyman Clyde Vanel (D-Queens Village), chairman from the Internet and New Technology Subcommittee, believes that all isn’t lost. He thinks things will turn about before the year is over. In an interview with On-line Poker Report, Vanel shared his optimism.
Presently, there are 13 co-sponsors, but Vanel believes the number will increase additional.
The report noted that Vanel’s optimism comes regardless of the failure of online poker to find a location within the state’s spending budget. The assemblyman was able to generate 60 signatures from Democrats, They signed a letter in assistance of including on-line gambling in the budget. Using the recent improvement, Vanel is seeking to turn a few of those who signed the letter into co-sponsorships from the bill.
“The budget effort didn’t work, but that occurs with negotiations. What the exercise did is make us see that there’s much more support for poker on-line than we previously thought,” explained Vanel.
Known as the iGaming bill, it allows the regulation and licensing of gambling websites and on-line poker. It has so far been legalized in four U.S. states. According to VegasSlotsOnline, Pennsylvania became the fourth state to approve the bill last year. The state follows Nevada, Delaware, and New Jersey, which had earlier approved and regulated iGaming.
Now that 4 states have already legalized online gambling, the industry is hopeful the effect will ripple toward other states, particularly in New York.
When it comes to conventional nontribal casinos, things have been a struggle lately, particularly in New York. VegasSlotsOnline noted Rivers Casino and Resort in Schenectady, Del Lago Resort Casino in Seneca County, Tioga Downs Casino in Nichols, and Resorts World Catskills in Monticello have all been struggling when it comes to revenue. Del Lago Resort Casino is said to possess fallen in debt following failing to hit its $263 million target by $100 million in its initial year of operation.
Exactly the same may also be stated of Tioga Downs, which was $30 million short of hitting its $103 million revenue target for its opening year. Rivers Casino, however, fell into a a lot deeper hole after missing its $222 million target by $80 million. Resorts Globe Catskills, that is the youngest of the 4 casinos, has also been struggling since it opened its doors in February.
Meanwhile, Sen. John DeFrancisco, deputy majority leader, said in an interview the monetary woes from the Del Lago Resort Casino shouldn’t be a burden to the people. “This casino developer pushed to possess a new York casino for many years, including on the Syracuse state fairgrounds, he stated. “So, he knew precisely what he was obtaining into. If he’s losing cash, that is his issue to repair, not the taxpayers.”
Additionally, New York Gov. Andrew Cuomo produced it clear in an interview with newyorkupstate.com the casinos can’t anticipate any help from the state, noting the issue is a private concern. “They bid, they made an investment and some of them will say they are not performing as well as they hoped or would have expected,” stated Cuomo. “But, they’re private issues, and I do not want to get in to the business of bailing out private concerns.”