{"id":1034718,"date":"2026-08-31T10:11:16","date_gmt":"2026-08-31T10:11:16","guid":{"rendered":"https:\/\/www.europesays.com\/us\/1034718\/"},"modified":"2026-08-31T10:11:16","modified_gmt":"2026-08-31T10:11:16","slug":"dems-push-hochul-to-block-staggering-72-tax-rate-slapped-on-nycs-first-full-casino","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/1034718\/","title":{"rendered":"Dems push Hochul to block staggering 72% tax rate slapped on NYC’s first full casino"},"content":{"rendered":"

Queens Democrats are pushing Gov. Kathy Hochul to block a plan that would force the Big Apple\u2019s first full casino<\/a> to pay a staggering 72% in taxes on its slot revenues.<\/p>\n

Local lawmakers sent a sharply worded letter on Aug. 25 in defense of Resorts World New York City to Brian O\u2019Dwyer, the chairman of the New York State Gaming Commission handpicked by the Democratic governor.<\/p>\n

\u201cA 72% tax rate is excessively high,\u201d state Sen. Joe Addabbo, chairman of the Committee on Racing, Gaming and Wagering, told The Post.<\/p>\n

\u201cThe governor\u2019s office has to step in and resolve this issue. The Gaming Commission falls under the auspices of the governor.\u201d<\/p>\n

Local lawmakers sent a sharply worded letter to Gov. Kathy Hochul in defense of Resorts World New York City. Brigitte Stelzer for NY Post<\/p>\n

Genting Chairman KT Lim rolls dice on a new craps table with Nas and Queens Borough President Donovan Richards in April, when Resorts World opened the Big Apple\u2019s first table games casino. Stephen Yang for NY Post<\/p>\n

The Jamaica casino, owned by Genting, opened as a slots parlor in 2011 before it netted a state license this year to also offer live table games such as baccarat, blackjack and craps.<\/p>\n

Resorts World officials proposed a 56% tax rate as it sought a full license \u2014 including subsidies to the horse racing industry. That\u2019s the rate the casino is now dishing out to the Empire State.<\/p>\n

But the seven-member Gaming Commission \u2014 which includes five Hochul appointees \u2014 argued that the 56% tax rate does not include Resorts World\u2019s separate obligation to pay mandated revenues to support the horse racing industry.<\/p>\n

This separate obligation would force Resorts World to remit another 16% \u2014 or 72% of its slots revenue \u2014 to the state and the subsidized racing industry.<\/p>\n

That\u2019s an additional $150 million a year over the 15-year contract. <\/p>\n

The 56% tax tax rate that RW pay is already among the highest, if not highest, in the country.<\/p>\n

New Jersey\u2019s Atlantic City casinos, by comparison, pay a 9.25% state tax rate. Michigan\u2019s tax rate is 19% on its Detroit casino and Ohio imposes a 33% tax rate. <\/p>\n

The 10 lawmakers who signed the letter said the issue requires \u201cimmediate resolution\u201d as a decision is expected by Friday.<\/p>\n

\u201cThe uncertainty now threatens not simply one company, but billions of dollars in private investment, thousands of jobs, local businesses, and the communities we represent,\u201d said the letter, whose signees include Rep. Gregory Meeks, also the chairman of the Queens Democratic Party.<\/p>\n

The Jamaica casino, owned by Genting, opened as a slots parlor in 2011 before it netted a state license this year to also offer live table games such as baccarat, blackjack and craps. Stephen Yang for NY Post<\/p>\n

\u201cRWNYC should pay the 56 percent slot gaming tax rate it offered, and the racing industry should continue to receive the full support required under State law.\u201d<\/p>\n

The lawmakers said accountability cuts both ways.<\/p>\n

\u201cApplicants must be held to the financial, employment, investment, and community commitments they make to New York,\u201d the letter stated. \u201cAt the same time, the State should administer those commitments according to the framework upon which they were offered and evaluated.\u201d<\/p>\n

The letter was co-signed by state Sens. Leroy Comrie and James Sanders; Assembly members Alicia Hyndman, Stacey Pheffer Amato and Kahleel Andersson; and City Council members Nantasha Williams, Ty Hankerson and Selvena Brooks-Powers.<\/p>\n

They expressed concern the tax dispute could hinder Resorts World\u2019s planned $4 billion casino and entertainment expansion that would support substantial union construction employment, thousands of permanent jobs, opportunities for local and minority contractors.<\/p>\n

\u201cThe governor\u2019s office has to step in and resolve this issue. The Gaming Commission falls under the auspices of the governor,\u201d state Sen. Joe Addabbo told The Post. Pacific Press\/LightRocket via Getty Images<\/p>\n

But the commission stood its ground.<\/p>\n

\u201cThe Gaming Commission determined that Resorts World would pay a 56% tax rate on slot-machine gross gaming revenue, just as Resorts World proposed to pay in seeking the license,\u201d said commission spokesman Lee Park.<\/p>\n

\u201cBy law, this gaming-revenue tax is separate and apart from their other required statutory obligations, which are not taxes.\u201d<\/p>\n

In awarding the casino license, the Gaming Commission set a 56% slot-machine gaming tax rate.<\/p>\n

The commission said it cannot not divert casino tax receipts to any purpose other than those the law requires \u2014 paid only to states fund that benefits public education and the Metropolitan Transportation Authority.<\/p>\n

Resorts World\u2019s obligation to fund racing is required under a separate law and is not considered a tax, the commission claimed. Resorts World could pay it from any of its revenue sources, not just from slot machines, the commission noted.<\/p>\n

A spokesperson for the governor, who is seeking re-election to a second full term, said the tax rates do not \u201cand have never\u201d included racing support payments.<\/p>\n

\u201cBy law, tax rates do not, and have never, included racing support payments. \u201cThe State\u2019s priority is to generate substantial tax revenue for public education and mass transit, ensure continued support for the racing industry, and deliver the investment, jobs and economic benefits Resorts World promised for Southeast Queens & New York State,\u201d Hochul spokesperson Gordon Tepper said.<\/p>\n

Resorts World spokesman Stefan Friedman said, \u201cWe are having constructive conversations with the state and continue to look forward to working together.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Queens Democrats are pushing Gov. Kathy Hochul to block a plan that would force the Big Apple\u2019s first…\n","protected":false},"author":3,"featured_media":1034719,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5122],"tags":[5229,57826,9303,16759,5371,5248,405,403,5226,5225,5228,5227,80,618,67,586,132,5230,68,1154,2969],"class_list":["post-1034718","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-america","tag-aqueduct","tag-casinos","tag-gambling","tag-kathy-hochul","tag-metro","tag-new-york","tag-new-york-city","tag-newyork","tag-newyorkcity","tag-ny","tag-nyc","tag-politics","tag-taxes","tag-united-states","tag-united-states-of-america","tag-unitedstates","tag-unitedstatesofamerica","tag-us","tag-us-news","tag-usa"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/117189587126596109","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/1034718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=1034718"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/1034718\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/1034719"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=1034718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=1034718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=1034718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}