New York could investigate revenue shortfall

A state assemblyman asked to investigate the situation of the casinos that opened in Upstate New York.

US.- Assemblyman Gary Pretlow has asked state Comptroller Thomas DiNapoli to investigate the numbers that the new casinos in Upstate New York reported in the last few months as they have collected much less revenue than what it was predicted.

Pretlow said that he’s worried that casinos might end up asking the state for a way out once the revenue gets even worse. He believes that an investigation could determine if the shortfall is due to economic issues or that the projections estimated for the Upstate casinos were way off as the operators tried to win licenses in the state.

“When our state passed legislation to expand gaming, our decision was based on projections of robust revenues, and promises that casino development would not place new burdens on taxpayers. The last few months, however, have called into question those projections and promises,” said the official in the letter.

Jennifer Freeman, communications director of the comptroller, said that Pretlow’s request is still under review. The three casinos, del Lago, Rivers and Tioga Downs, are US$220 millions short of their estimations for the first year of gaming revenue, as the New York Gaming Commission informed.