KUALA LUMPUR (March 31): Malaysia’s Genting Group is seen among the front runners for a casino licence in the New York area, according to The New York Times (NYT).

In a report on Wednesday (March 30), the NYT said that in the next several days, as part of state budget negotiations, Governor Kathy Hochul and legislative leaders may hash out a deal that could authorise three casino licenses for the New York City area.

It said many lawmakers and lobbyists in Albany believe that two of the licenses are likely to be awarded to Genting and MGM Resorts, which operate the two so-called racinos — horse racetracks that have been refashioned as casino-like properties, albeit without games like blackjack or roulette — in Yonkers and Queens, which already employ thousands of union members.

The NYT said gambling companies are spending roughly US$300,000 a month on a lobbying blitz to push the state to fast-track the timetable for New York’s final three casino licenses, and to influence the decision on where the casinos will be located, and who gets to operate them.

It said casino interests argue that New York is losing out on tax revenue from New Yorkers gambling in neighboring states by waiting until 2023 to allow casinos downstate, as an amendment to the State Constitution passed in 2013 dictates.

Hochul, who was endorsed by the Hotel and Gaming Trades Council in her run for a full term, is pushing to include a provision in the state budget to expedite the licenses.

The NYT said Senate Democrats have also embraced the idea, and proposed that operators pay a minimum of US$1 billion for each license, a potential boon for state coffers. But it remains unclear if the final budget, due April 1, will include a minimum licensing fee.

The report said the influential union representing hotel workers has been coordinating with some casino operators, arguing that new casinos in and around New York City — and particularly at existing electronic games facilities in Yonkers and in Queens — would lead to the employment of thousands of hotel workers who lost their jobs when the pandemic undercut the tourism industry.