Risks, rewards of expanding gambling in New York highlighted in report – The Daily Gazette

SCHENECTADY The state Gaming Commission this week released a consultants sweeping report on New Yorks gambling industry, with extensive predictions on the impact new or expanded casinos would bring.

The conclusions and recommendations line up neatly with some of the budget proposals Gov. Andrew Cuomo made last week for the casino industry, which entail the potential benefits of opening three more casinos, the potential reduction of taxes paid by existing casinos, and the implementation of digital sports betting.

This report provides a valuable tool for the Commission and policy makers to use as discussions continue on the future of the gaming industry in New York, said Brad Maione, spokesman for the Schenectady-based Gaming Commission. This reportshould assist withmakingsound fiscal decisions.

Pennsylvania-based Spectrum Gaming Group was selected to provide a market analysis in November 2019; an analysis of the impact of COVID was subsequently added to its scope.

Spectrum has provided research and professional services centered on the gaming industry since 1993, including studies or consultations in 40 states or territories and in 48 countries on six continents.

Its 345-page Gaming Market Study: State of New York provides extensive facts, predictions and recommendations.

Some of the points are quoted or summarized below:

Categories: Business, News, Saratoga County, Schenectady County

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Risks, rewards of expanding gambling in New York highlighted in report - The Daily Gazette