NY Senator Joseph Addabbo on Casinos, Congestion Pricing, and iGaming

Political Landscape and Gubernatorial Race

• 🗳️ Senator Joseph Addabbo acknowledges the start of the 2026 election cycle with Elise Stefanik's run for governor against Kathy Hochul.
• 💡 He emphasizes that campaigning is a core part of an elected official's job, providing an opportunity to communicate past achievements and future visions.
• 📊 Addabbo stresses that elected officials must focus on making constituents' lives better, addressing concerns like federal cuts, recession, and affordability.

Casino Development and Funding

• 🎰 Three downstate casino licenses are nearing award, with a decision expected from the siting board by December 1st and the gaming commission by December 31st.
• 🏗️ These new casinos are projected to create approximately 25,000 construction jobs and 15,000 post-construction jobs, representing significant career opportunities.
• 💰 The licenses are expected to generate billions for education, with an estimated $3 billion in new revenue annually, in addition to the $1.5 billion in initial license fees going directly to the MTA.
• 📈 A substantial portion, 80% of the tax revenue from these casinos, will also go to the MTA, providing sustainable funding.

Congestion Pricing Debate

• 🚗 Addabbo expresses skepticism about congestion pricing, highlighting the significant revenue the MTA will receive from the new casinos as a potential reason to reconsider it.
• 🗣️ He states that the casino revenue, particularly the $1.5 billion one-time fee and ongoing tax revenue, presents a strong argument to discuss the elimination or reduction of congestion pricing.
• ⚖️ He plans to bring up the issue during budget negotiations, suggesting that the new revenue streams could offset the need for congestion pricing.

Gaming Industry Evolution and Regulation

• 📱 Mobile sports betting and iGaming are identified as critical components that brick-and-mortar casinos must integrate to remain competitive.
• 🌐 New York faces competition from neighboring states in iGaming and an unregulated illegal market, making state-level iGaming a potential new revenue source.
• 🎓 While current sports betting and casino revenue is statutorily earmarked for education, Addabbo argues that new iGaming revenue could be allocated to other critical areas like healthcare.
• 🔒 To protect the integrity of sports and consumers, New York prohibits betting on in-state college teams in mobile sports betting due to the risk of player influence.