Despite the widely promoted and described as magnificent and impressive, the future casinos in the state of New York will most probably be preceded by “slots in a box”. For the time being, restaurants, luxurious hotels and entertainment facilities are not included in the list of immediate actions of the investors.
During the last couple of months, communities were repeatedly informed about the benefits the expansion of the gambling market in New York would bring about. A total of 16 proposals were reviewed and the most prominent investors were sorted out.
However, the officials of Long Island are expecting the local players to be gripped by the establishment of electronic slot machine parlors. They are also known as “slots in a box” and according to market analysts, they are supposed to bring huge revenues. They are to be located in Suffolk and Nassau.
By the end of 2015, Nassau is about to have its gambling hall opened. It will contain electronic slot machines, baccarat and roulette games. Local officials have recently made the first step towards financing the hall. The net revenue the slot parlor is expected to bring is equal to $150 million.
As far as the gambling affairs in Suffolk are concerned, local officials are planning to establish a slot parlor with more than 1,000 machines, dining and entertainment facilities. It is to be situated where the former movie theater in Medford was.
The new owners acquired the land two months ago and chose Delaware North as their business partner.
Philip Nolan, the President of OTB, said that they are impatient to start the building procedures as soon as possible.
The upcoming Wednesday is the day when the local gambling regulators are supposed to announce which are the four investors chosen for building casinos in the state of New York. The projects are believed to be much more significant than the slot parlors but they are not likely to be available for players anytime soon.
Companies that get an approval to start their projects will have to be scrutinized by the State Gaming Commission. Plus, they have to go through further checking procedures. The new venues are expected to open doors in 2017.
As a matter of fact, the gambling industry in the state of New York is not as untapped as many people believe. There are nine racetracks and five tribal casinos but local authorities agreed on expanding the gambling sector with the aim of helping the economy.
Apart from establishment of impressive casino resorts, the Legislature allows slot parlors at Long Island to be established as well.
Although the idea about the slot parlors is not particularly appealing to all New York officials, investors are convinced that the ventures will be successful and profitable.
