Less than a week after Caesars Entertainment unveiled plans for a proposed Times Square casino project in New York, Gov. Kathy Hochul reiterated her support for comprehensive downstate casino expansion at Tuesday’s gubernatorial debate.
The state’s plan to award licenses to three retail casino facilities has become a hot button issue in Hochul’s gubernatorial race against Republican challenger Lee Zeldin. When New York approved a fiscal year 2023 budget in April, the state projected that the formal inclusion of three downstate casino licenses would generate an initial $1.5 billion in revenue for the state. Under the law, each of the coveted three licenses will cost a minimum of $500 million.