Published on: January 5, 2026, 09:44h.
Updated on: January 5, 2026, 09:44h.
- Bloomberg’s editorial team warns against New York’s decision on downstate casinos
- The editorial asserts that casinos fall short of their economic promises
The Bloomberg Editorial Board has voiced its concerns regarding the impending launch of large-scale casino resorts in New York City.
Recently, the New York Gaming Facility Location Board, alongside the New York State Gaming Commission, approved plans for three Las Vegas-style casino venues in downstate New York—two in Queens and one in the Bronx.
The Bloomberg Editorial Board, which consists of nine journalists commenting on various national and global issues, argues that Bally’s Bronx at Ferry Point Park, Hard Rock Metropolitan Park at Willets Point, and Resorts World New York City at the Queens Aqueduct Racetrack will be a disadvantage for the downstate area. They assert that casinos frequently do not fulfill their economic promises and can adversely affect nearby businesses.
“Casinos impose significant costs on non-gamblers unlike other entertainment avenues. Over time, they can lead to increased crime rates and a rise in bankruptcies. As they depend heavily on problematic or at-risk gamblers for up to 90% of their income, they correlate with extensive public expenses, including those for courts, emergency services, unemployment, and bad debts. According to one study, the societal costs associated with casinos outweigh their economic advantages by a factor of six,” noted the Editorial Board.
Bloomberg is a privately held American financial, software, data, and media enterprise based in Midtown Manhattan, with billionaire Michael Bloomberg owning approximately 88% of it.
Challenges for Casinos
The Bloomberg editorial team, led by Senior Executive Editor Timothy O’Brien, a former editor and reporter for the New York Times, contends that casinos tend to shift spending from local establishments and services. They further claim that casinos do not effectively enhance productive capacity or foster meaningful innovation.
“By design, casinos are self-sufficient, making it unlikely for them to aid neighboring businesses. Research indicates that they typically provide little to no enduring enhancements to retail sales, job growth, or wages,” the editorial elaborated.
In contrast, the three casinos are pledging substantial benefits. During the bidding stage, each plan promised to create thousands of high-paying full-time jobs and made various commitments to community enhancements, such as infrastructure improvements and public parks.
According to projections from the Gaming Facility Location Board, these casinos are expected to generate $7 billion in additional tax revenue from 2027 to 2036, along with $1.5 billion in immediate licensing fees. This tax revenue is aimed at supporting the MTA, education, and local initiatives in Queens, the Bronx, and nearby counties.
Choice Empowerment
Casinos were once confined primarily to Nevada, Atlantic City, and tribal reservations, but today, 43 states feature commercial or tribal casinos.
With approximately 134 million Americans having visited a casino in the past year, it’s evident that casinos have gained immense popularity. The Bloomberg writers concede that it’s ultimately the choice of Americans to decide on gambling.
“Clearly, American voters perceive casinos as a worthwhile gamble, which is part of life’s complexities in a democracy,” they concluded.