NY pols racing (again!) to place a bad bet on casinos
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Gov. Kathy Hochul wants to lift the ban on upstate casinos. She wants the state gaming board to issue a Request for Applications for three new gambling sites. The focus will be on "downstate" venues, with New York City the big prize.
NY pols are trying to open new casinos. They think it will boost the economy and raise tax revenues. It's not a good idea. New York already squeezes more than $110 billion from residents. It is a regressive tax. The government promotes gambling as a way to raise revenue. There is an explosion of casinos and online wagering. This has diluted the betting pool and hurt the operators. Atlantic City has seen several casinos close. Some are in trouble. Upstate New Yorkers have seen tough financial times. Gambling is nothing short of perverse.
