NY is conquering casino industry
The state will also add four new gaming centres in the following months.
US.- New York has been setting its path to become the latest casino State of the country, as its gaming projects and results have shown an important increment. Whilst the government announced the approval of four more casinos, the current centres in New York may surpass Nevada’s casino tax revenues.
According to the American Gaming Association’s annual survey of the casino industry, if New York achieves further incomes than Nevada, the State known better for its casino hub, Las Vegas, would be in the third place of the tax revenue ranking from the casino industry. The first place is seemingly occupied by Pennsylvania, with US$1.38 billion in tax revenue, nearly US$500 million more than Nevada’s results.
With the installation of four new casinos upstate, New York is competing for the development of the industry. The expansion of casino venues would jeopardize Atlantic City’s incomes, located in the neighbour State, New Jersey. Atlantic City has been facing a major casino revenue decline, which could also be deeply impaired with the approval of new casinos state-wide to compete with New York.
American Gaming Association’s results show that in 2015, New York’s commercial casinos generated US$888.4 million in tax revenue. Meanwhile, Nevada reached a result of US$889.1 million in tax revenue in the same year. New York noted a total growth of 2.7 percent in 2015, whilst Nevada’s increment was of 0.87 percent.