Portugal Is Considering a Change in Its Gambling Tax Policy [...]
$750M Casino Resort to Be Built in Upstate NY
- August 18, 2014 By Samantha A. -
$750M is a lot to put down on a casino resort a lot of people think. This might be true if it wasn’t the leaders in the casino market – Caesars. They also put in a $1M bid just for the licenses to operate in the state alone. They are looking to increase their market share and take the upstate market by storm with one of the biggest and the best casino and resort. The new casino is expected to be put up by Manhattan and Caesars couldn’t be any more proud of the fact.
Not only does their new casino ward off any other Las Vegas players, but it allows them to have a chance within the field of growing casinos. Gov. Cuomo passed a bill allowing casinos to be constructed throughout the state. This was done in hopes of stimulating the current economy and hopefully, making it better for everyone that lives within the state.
Many experts believe that Cuomo is a bit behind in his times, but this doesn’t make large casino owners, such as Caesars jump on the opportunity to expand into some of the other markets throughout the country.
There are around 15 other casinos that are submitted their bids in for a license to operate in the state. Some of them are going to be building around Caesars but most are going to be finding a place where they are not going to be overshadowed by the king. Caesars runs one of the largest casinos that you’ll find in Las Vegas, which makes them one of the most known, most luxurious and also most successful in the casino market currently. With this new casino, they plan to get their name out there even more, even if it means getting rid of the competition.
This new casino law that was passed put Caesars in the right position to jump into the NY market as fast as they could. This is exactly what they did and now they are excited to start the new adventure opening up in one of the busiest areas in New York.