Published on: September 26, 2024, 09:59h.
Last updated on: September 26, 2024, 09:59h.
Jake’s 58 Casino Hotel in Long Island, New York, is currently undergoing a renovation and expansion project worth $210 million. The construction of the new building in Islandia will commence soon.
As new competition is on the horizon with three integrated resort casinos coming to the downstate region, Jake’s 58 is preparing for the next phase of growth. While Suffolk Regional Off-Track Betting Corp. (Suffolk OTB), the parent company of Jake’s, is not applying for one of the three full casino licenses, they are investing heavily in the property to secure its position in the New York gaming market.
Suffolk OTB President and CEO Phil Boyle stated that the investment is focused on attracting new visitors to the resort.
Boyle mentioned, “Once completed, the expansion will allow us to host corporate outings, conventions, trade shows, and musical events, making Jake’s 58 a versatile venue for various gatherings.”
Jake’s currently operates video lottery terminals (VLTs) through a central lottery system overseen by the New York Gaming Commission. The state’s 11 VLT casinos contribute a portion of their revenue towards public education and gaming administration.
Key Expansion Features
The $210 million investment by Suffolk will include renovations for all 210 guestrooms in the hotel and an upgrade for the current casino area, originally housed in a former Marriott hotel lobby.
Construction work starting this week will focus on a new 110,500-square-foot building behind the existing hotel.
The new building will double the number of VLT positions from 1,000 to 2,000, and will feature a 17,500-square-foot VIP lounge and entertainment area. Additionally, there will be a dedicated space of 3,500 square feet for events like weddings and parties, along with a 200-seat food court.
In addition to the new building, Suffolk is also investing in a 3.5-story parking garage to accommodate up to 500 vehicles. The current lack of sufficient parking has been a concern for Jake’s, and the new garage aims to improve the overall visitor experience.
The new facilities are expected to be completed by the first quarter of 2026. Once operational, the expanded casino will increase its annual contributions to the local government of Islandia from $2.25 million to $4.25 million, potentially leading to property tax reductions for residents.
Sports Betting Advocacy
Though not seeking full casino rights, Boyle believes that sports betting should be expanded to VLT establishments, racinos, and off-track betting locations in Long Island.
Boyle expressed, “With three million people on Long Island and no sportsbook, it’s time for lawmakers to consider expanding sports betting options.”
While physical sportsbooks are currently unavailable on Long Island, New York residents can access legal online sports betting platforms until the new casinos open.