New York casino market backed to match Las Vegas success
New York has the potential to match or even surpass Las Vegas for casino gaming revenues in the future.
That is the unequivocal opinion of Howard Glaser, who works as the global head of government affairs at the reputable iGaming company Light & Wonder.
Currently, New York is an untapped casino market. A global tourist destination that anchors 23 million residents, legalized casino gambling has yet to see the light of the day.
However, things are expected to change as of 2024, as the battle to land one of the three coveted licenses up for grabs in downstate New York, which includes New York City, Long Island, and Westchester County, intensifies.
Voters first approved legislation for the erection of Las Vegas-style casinos 10 years ago, and Glaser, who previously served as senior policy advisor to Gov. Andrew Cuomo (D-NY), is well placed to comment on how the New York casino scene might fare moving forward.
Giving his thoughts on the casino revenue projections raised for New York, Glaser is convinced the market has serious potential to sky rocket.
In a recent interview with CNBC, he said: “The numbers are eye-popping in terms of the potential revenue.
“A study New York State itself did said $8billion a year in potential casino revenue from three casinos. To give you perspective, the Las Vegas Strip produced $8billion in casino revenue last year.”
Nevada casinos have dominated the US landscape for a long time, and they have become accustomed to amassing gaming revenues of over $1bn per month.
But Glaser thinks that whoever pockets the casino licenses in New York will yield huge gains in the future.
He added: “How is it possible that three New York casinos equal the whole Las Vegas Strip?
“23 million people live here, 50 million people visit. Casino executives want to be in this market.”
New York is an enticing proposition for any casino operator who wants to set base there, but whether Glaser’s prediction proves to be true, only time will tell.
- Other news categories:
- SlotsUp's news