Overview of the Pros and Cons of Building a Casino in New York City
Two groundbreaking public development initiatives threaten to forever alter the face of New York City and could potentially bring with them both political and financial consequences. This news is likely to be met with apprehension from many local residents.
Closing Rikers Island is of utmost necessity and urgent as the abominable conditions continue to worsen. Nineteen people have perished within New York City’s jail system this year alone! Despite opposition from locals and a lack of full backing by Mayor Eric Adams, it must be done before August 31st, 2027. It has become an essential matter that requires immediate attention – no longer can we tolerate such awful circumstances in our jails.
New York City will soon have its first legal 1xBet casino games online for real money in 400 years! This means that people who live there can play games like blackjack, roulette, poker, and craps without leaving the city.
Exploring Different Locations to Build a Casino in NYC
The city and state are making plans to build a casino. People are worried that the area will have more traffic and crime. The Shubert Organization owns many theaters, and their partner, The Broadway League, doesn’t want a casino near Times Square.
Undoubtedly more resistance will continue to arise as time passes on. Alternative locations include the dynamic Hudson Yards and bustling Coney Island. Bringing a casino to NYC will take political adeptness, compromise, and ingenuity – much like when we closed Rikers!
Understanding Regulations for Building a Casino in New York City
To close Rikers, generate hundreds of millions of dollars, and keep the casino away from all areas in New York City, there’s a viable solution: After shutting down Rikers Jail Complex, we should construct an enormous Las Vegas-style hotel and gambling den.
This venture could be highly beneficial for the city both financially and socially.
This project will be exciting for everyone in the area. There are 23 million people living here and even more tourists who visit. It will also help people by creating jobs and bringing money into the city instead of out of it like it used to do. This is a great example that New York City can still make big projects happen!
Examining What Makes the Best Place to Build a Casino in NYC
The advantages of a Riker’s casino surpass just money. The project could be a great success in New York City! Money will be used to help people in need, give training for jobs, work on drug problems and mental health services, and make it safer.
People will get help immediately and can use the resources to improve their lives.
Boasting 413 acres, roughly equivalent to two-thirds of a square mile, Rikers Island offers more than enough space to construct an alluring casino, accessorized with a convention center and 3,000-room hotel. Additionally, there could be room for a captivating concert venue and eateries. A bridge that connects Queens and Rikers Island needs to be bigger. Ferry service from the Bronx can also help people get to the island. Buses can travel south too. When everything is finished, there will be places for people to park on the island – just like an urban planner imagined!
Analyzing the Potential Financial Benefits of Building a Casino in NYC
I said that Rikers should be closed because it was not fair. People who are poor, have drug problems or are ill in the head stay there. I wrote this in The Times newspaper back in 2015. With an economic standpoint in mind, I envisage how creating a casino at Rikers may be feasible.
The city owns Rikers. This means the city can decide who should build it and how any money made from it will be used. The city can either keep control of the project and hire someone to do the work or share control with a partner. If they want extra protection, they can rent Rikers instead of owning it.
It’s important not to underestimate what kind of financial success this endeavor could bring to the city.
The city and state need to make a group called the ‘Rikers Development Corporation.’ They can make money by selling “Riker’s bonds” that don’t have taxes. People working for Rikers Development Corporation should be former inmates or people who used to work at Riker’s Island.
Examining Possible Challenges with Building and Operating a Casino in NYC
The Adams and Hochul administrations might be able to work together with the industry to build a casino on Rikers Island. This could be a good chance for the government and citizens to benefit. This is similar to Battery Park City’s development, Brooklyn’s Downtown revitalized, and Times Square saved.
It is expected that there will be obstacles along the way. Some people may not like the idea of having a casino in the city.
But the state already said it was ok and is coming soon. So, should we take advantage by taxing or owning it?
The infrastructure costs for Rikers Island are undeniably colossal. Zachary Katznelson said that only 100 of the 413 acres of land are stable. The rest is made up of a landfill which has decaying materials and gas coming out of it. To build anything, people would need to put in special support parts for the unstable ground. This might cost more than expected, but it can still be done.
Donald Trump had some casinos in Atlantic City that failed. But that does not mean all casino developments should be avoided. Cities like Philadelphia, Detroit, and Cleveland have made a lot of money from their casinos. So it would be a bad idea to ignore successful opportunities because of one bad experience.
Summarizing Findings on Where’s the Best Place to Build A Casino In New York City
In addition, it would be prudent of the city to align its goals with those of Renewable Rikers–a group advocating for a solar farm, wastewater treatment facility, and other green infrastructure. The City Council has already given its stamp of approval on this vision.
Now, let’s examine the economic benefits of casino development. To be frank, it is rare to come by projects in the gambling industry like this one. Before the pandemic, Wynn Resorts in Las Vegas made more than $400 million each year. Even though there were many other big places on The Strip, none were as big as Rikers Island. If something like a resort was built on Rikers Island, it could make even more money than Wynn Resorts did.
At Resorts World at the Aqueduct Racetrack in Queens, you cannot play popular card and dice games like blackjack, craps, roulette, and poker. It only has 6 000 slot machines. But it still makes a lot of money! Between 2011 and 2020, it made over $3 billion for New York State’s lottery educational fund. This shows that the facility is successful even without many entertainment or dining options.
Mayor Adams wants Rikers Island to close. It is a place where people suffer. Video games make a lot of money each year, so if we use our imaginations, we can think of ways that Rikers could make many times more money than that.
Author: Ryan Gaydos
Featured Image by Manuel Romero from Pixabay