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New York Lawmakers Urge Governor Hochul to Address 72% Tax Rate on Casino Revenues
Queens Democrats are calling on Governor Kathy Hochul to address a proposed 72% tax rate on slot revenues for New York City's first full casino, Resorts World New York City. Local lawmakers argue that the tax rate is excessively high and could jeopardize the casino's planned expansion, which is expected to create jobs and support local businesses. The Gaming Commission maintains that the effective tax rate includes separate obligations to support the horse racing industry.
Companies
Resorts World New York City
Genting
People
Kathy Hochul
Joe Addabbo
Gregory Meeks
Lee Park
Gordon Tepper
Our neutral summary
Queens Democrats are calling on Governor Kathy Hochul to address a proposed 72% tax rate on slot revenues for New York City's first full casino, Resorts World New York City. Local lawmakers argue that the tax rate is excessively high and could jeopardize the casino's planned expansion, which is expected to create jobs and support local businesses. The Gaming Commission maintains that the effective tax rate includes separate obligations to support the horse racing industry.
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