Governor Andrew Cuomo wants to expand casinos at a time they’re going belly up.
In New Jersey, a $2.6 billion casino and resort that got millions of tax incentives is bankrupt. The state is legalizing Internet gambling and wants to legalize sports betting. The New York Times reports:
Gov. Chris Christie signed a bill on Tuesday authorizing Internet gambling, which would allow people to play casino games from their mobile phones or laptops. He is also in court fighting a federal ban on sports betting, having signed a law last year that would legalize it.
At the same time, hotels in Atlantic City are experimenting with in-room gambling, as accessible and private as a minibar or on-demand movies. And lawmakers on the opposite side of the state envision pop-up casinos — one legislator likened them to county fairs — at concerts or sporting events.
Meanwhile, New York’s Indian casinos saw a drop in revenue in 2011. They are faced with competition from casinos in neighboring states and racetracks. Revenue at the tracks grew.
Do we want to go down the road taken by New Jersey? Or should we be focusing our efforts on innovation. We won’t attract economic development by installing more slot machines. We will, however, in the science lab.
Links of the Day:
– Cuomo wants to curtail sales tax incentives awarded to development projects that shift jobs around the same community. COMIDA isn’t happy.
– Mental health officials say the state’s new gun law will cost millions.
– Bath salts use appears to be on the decline. I don’t think that’s because of the ban. (Bans don’t work on other drugs.) I think it’s because users aren’t getting much enjoyment out of it.
– The Eastman House doesn’t like the proposed changes to a University Ave. apartment complex design.