Casino resorts plan approved by New York state board
Advocates celebrate nod after intense lobbying for full-scale gambling as salve for region's economic woes
New York
ONE of New York Governor Andrew Cuomo's signature initiatives - the expansion of gambling in the state - took a major step forward on Wednesday when a state board recommended the approval of Las Vegas-style casino resorts in the Catskill Mountains, near Albany and on the northern end of the Finger Lakes.
The resorts - which would include casinos, boutique hotels, spas, luxury restaurants, golf courses and other amenities - are expected to provide thousands of jobs in distressed parts of the state and, according to one estimate, generate more than US$300 million in new tax revenues.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%
Singapore office rents in central region fall 1.7 per cent in Q1 after rising for 9 quarters
Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand