By Mike Schneider
Senior Correspondent
“In the Catskills Hudson Valley region, this board recommends that the commission will consider Montreign Resort Casino in the town of Thompson in Sullivan County,” said a member of the New York State Gaming Commission.
New York casino officials put their announcement out there on the web and put their proposed casinos far upstate — three of them, of the expected four, and none of them closer than two hours from North Jersey. They rejected that billion dollar bid for a mega resort in the environmentally sensitive Sterling Forest, just a few minutes from state line and another one a few miles away in Woodbury. Good news for those who like to see a casino come to the Meadowlands.
“Actually I am a little surprised. I was fairly confident that they wouldn’t put one of the casino locations closer to the New Jersey borderline than what it was. So it is a little bit of good news,” said Meadowlands Regional Chamber of Commerce President and CEO Jim Kirkos.
But Kirkos knows they have to move quickly and he’s not alone.
“Well, it says to me, we better get going and get some casinos opened in North Jersey. So we can bring the revenues back up that have been fleeing the state,” said Sen. Ray Lesniak.
Wall Street has been watching New Jersey’s gambling decline, wondering what would come next. But what do they think about the impact of New York’s move today?
“Generally speaking, we still expect Atlantic City casino revenues to decline and we’ll still hold the momentum for expansion beyond Atlantic City, but I think this softens the momentum of it,” said Casino Analyst and Director of Gaming Lodging and Leisure, Fitch Ratings Inc. Alex Bumazhny.
Ultimately the big concern among New Jersey casino backers tonight is what New York did not do today. Remember that fourth casino license they did not award today? New Jerseyans are worried it’s only a matter of time before it is awarded and that it goes for a full scale casino resort just across the river in New York City.
“Don’t be surprised if New York City doesn’t come soon with a casino as well. We better be prepared. We need to have on the ballot next November an initiative so that we can vote to have some casinos in North Jersey. Create tens of thousands of jobs, reinvest money in Atlantic City to make that a year round tourist destination. That’s what needs to get done and that’s what has to get done,” said Lesniak.