Economics
New York to Award First Vegas-Style Casino Licenses This Week
State officials say legal gambling could inject $430 million into state and local governments.
A ball sits on a roulette wheel in the Cammegh Ltd. booth at the Global Gaming Expo (G2E) inside the Venetian Macao resort and casino, operated by Sands China Ltd., a unit of Las Vegas Sands Corp., in Macau, China,
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
New York state plans to select sites for its first full-scale casinos this week as Caesars Entertainment Corp. and Genting Bhd. vie to build a gambling palace within an hour’s drive of the Big Apple’s 8.4 million residents.
Four other publicly traded companies -- Empire Resorts Inc., Penn National Gaming Inc., Churchill Downs Inc. and Full House Resorts Inc. -- are among 16 bids for as many as four licenses. Winners are scheduled to be selected by the Gaming Facility Location Board on Dec. 17.