A hedge fund billionaire and a gaming giant hoping to land a coveted license to run a casino in New York City have to clear a major hurdle in Albany this year — or risk tougher odds in the crowded competition.
And a few weeks into a new legislative session in Albany, politicians who will help decide the fate of the proposals are already expressing doubts.
The race for three New York City-area casino licenses has drawn 11 proposals from gambling companies and real estate developers, who are sparing little expense for a slice of the lucrative untapped market. They will soon begin a lengthy state process that requires winning over local politicians and state gaming regulators.
