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Author Bio Rich has been a Fool since and writing for the site since Image source: Empire City. Sands also hired David Paterson, a former New York governor, to lobby on its behalf. Gamblers currently need to drive about three hours north to Connecticut for the Mohegan Sun and Foxwoods casinos, or an equal distance to the south to gamble in Atlantic City, New Jersey. I may not be able to respond to every suggestion, but I do read them all! Think an article needs a correction? Nov 12, at AM. It believes the acre property that contains the casino and the Yonkers Raceway horse track is a potential gold mine, and it's not wrong. CEO Jim Murren recently told area business executives that MGM wants to expand what's possible on the site to more closely tie sports and entertainment to the conference space and business opportunities it envisions: "Sports and live entertainment is a very big part of what we do. The ban, which expires in , also prevents downstate tracks like Yonkers Raceway from operating a sportsbook. Investing Best Accounts. His coverage reflects his passion for motorcycles, booze, and guns though typically not all exercised at the same time , but his writing also covers the broader sectors of consumer goods, technology, and industrials. So having one that's just minutes away -- OK, an hour if you know anything about Manhattan traffic -- would be a mecca for gamblers.

Rich has been a Fool since and writing new casino in nyc the site since After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time.

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Who Is the Motley Fool? It's clear the New York City casino market is a potential mother lode for MGM Resorts, but its ambitions for casino gambling and sports wagering could turn into fool's gold if its big bet on Yonkers is delayed or -- worse yet -- if licenses are handed out to the competition instead. Moreover, New York is home to some of the richest major league sports franchises, including baseball's Yankees, basketball's Knicks, football's Giants and Jets, and hockey's Rangers. New Ventures. Both MGM and Genting began lobbying state legislators this year to lift the ban, even offering to pay hundreds of millions of dollars in licensing fees if the moratorium was lifted early. So follow along as he tries to break down complex topics to make them more understandable and useful to the average investor. MGM has argued it will create jobs and revenue, and with Empire City having , square feet of gambling floor space -- the largest in MGM's portfolio and one of the biggest in all of North America -- the resort operator would be able to get up and running quickly. Yonkers sits a few miles north of Manhattan, the most populous city in the country, making it a prime location for a casino and sports betting operation. Have a story idea? Personal Finance. Stock Advisor launched in February of Join Stock Advisor. Planning for Retirement. Getting Started. When New York State legalized casino gambling in and established the four casinos, it created a year moratorium on issuing any additional downstate licenses in an effort to give the fledgling operators a chance to establish themselves. The closest one is Resorts World Catskills in Monticello, which is a two-hour drive. Industries to Invest In. Reach Rich here. New York does have four upstate casinos of its own, but three of them are even farther away, approaching a four-hour ride.