ALBANY (AP) New York is poised to diversify its gambling revenue streams yet again in an ever-shifting market.
On Monday, state regulators are expected to license three new casinos in upstate New York, a region that already has a dozen horse-track "racinos'' and Indian casinos. The move fits a longstanding pattern of New York officials finding new ways to cash in on gambling - like approving video lottery machines at ailing horse tracks or expanding into multistate lotteries as Lotto sales dropped.
Analysts believe the market is too crowded for the casino expansion to create a huge revenue jackpot for New York. But it could help.
Gov. Andrew Cuomo's administration has previously estimated new casinos could bring in more than $300 million annually to governments.
Finger Lakes Gaming and Racetrack warned Friday that the Lago casino, only 27 miles away, could be the "death knell" for its business, and 1,700 jobs. (See related story below)
