Mayor Spano States: “Yonkers is Shovel Ready Now”
In light of yet another New York City competitor dropping its bid for a casino, Yonkers Mayor Mike Spano today called upon New York State to award full casino licenses for Yonkers at MGM Empire City Casino and the Aqueduct racino now, and award the remaining license later.
“We have two racinos whose owners are ready to pay the State a billion dollars in application fees today, and to start generating hundreds of millions of dollars in new taxes tomorrow, “ said Mayor Spano, adding, “We all know that the cutbacks from Washington are going to cause holes in the State and local budgets by the end of the year, so let’s be proactive.”
Mayor Spano’s statement comes after the announcement yesterday that the Related Companies and Wynn are dropping their proposal to build a casino in Hudson Yards on Manhattan’s West Side. Another major proposal, by Bally’s to build a casino near Nassau Coliseum, has already been withdrawn. Each of the remaining proposals faces significant community opposition, unlike the Yonkers and Aqueduct proposals which have local community support.
“New York should move ahead right away with the two proposals that enjoy community support and are shovel ready to go,” said Mayor Spano. “We’ve already lost too much time. Let’s not lose any more.”
Mayor Spano noted that the proposal to convert the MGM Empire Casino in Yonkers would result in significant increased tax payments to the State, the City of Yonkers, and Westchester County.
The projected economic benefits to Yonkers and Westchester County include:
- $34 million in annual funds to the City of Yonkers, an increase of $15 million annually
- +2,000 new direct hires (tripling the existing workforce at Empire City Casino)
- +$340 million in 10-year gaming tax benefit to the City of Yonkers
- +$170 million in 10-year gaming tax benefit to Westchester County
“This is an unmatched opportunity for Yonkers and our region, let’s not lose momentum – because we all can win!” added Mayor Spano.
Under the State’s current timetable, the three remaining downstate casino licenses will not be awarded until December, which Mayor Spano said wastes yet another six months of increased revenues and jobs.