The New York mayoral candidate has suggested constructing a casino on the island to boost state revenues.
US.- The entrepreneur-turned-political figure Andrew Yang has proposed constructing a casino on Governors Island in New York Harbor to help raise revenue to make up budget deficits provoked by the Covid-19 pandemic.
The New York City mayoral candidate argues that a casino would generate revenue for the city and also stimulate the local economy by bringing tourists to the area.
Speaking on The Breakfast Club radio programme on New York’s Power 105.1 FM, Yang said that opening a casino on the 172-acre island just off Manhattan would help fund his administration’s $1bn basic income plan.
“That casino would generate so much money it would be bananas,” he said. “If the city could get that in place and harness some of that; that would be one of the engines of recovery. It’s going to be in an environment right now that is essentially unused.”
Such a gaming venue face several barriers, including the deed restriction reached in 2003 between the city and the federal government which explicitly forbids casino development.
On top of that, New Yorkers have expressed opposition on the grounds that the underdeveloped island is one of few green spaces easily accessible for residents in the city.
Yang’s plan comes after the governor of New York State, Andrew Cuomo, publicly advocated legal mobile sports betting. Two lawmakers have put forward a new proposal for regulation of the market.
The proposal suggests a $12m fee for the right to operate in New York and a 12 per cent gross revenue tax.