Convergence Strategy Group, as part of a large and diverse team led by Spectrum Gaming Group addressing all aspects of the gaming industry in New York for the State (from casinos to lottery, horse racing, sports betting, tax and licensing policies and socioeconomic impacts), assessed the future potential for both existing gaming statewide as well as for new developments in the downstate region.  This highly anticipated and widely lauded study was released in January 2021.  Specifically, Convergence Strategy Group’s principals were tasked with:

• Determining the gaming market potential for up to 3 new casino resorts in the greater NYC market, as well as a new slot facility in Orange County, NY
  • Determining the source of gaming patronage and revenues, including repatriated spending, tourist spending, spending from out-of-state residents, spending diverted from existing NY gaming facilities and new spending by New Yorkers
  • Determining the change in revenues for existing NY gaming facilities under each development scenario
  • Determining what the impact would be on NY gaming facilities if a large-scale casino opens at the Meadowlands in New Jersey
  • Determining the net tax implications of new casino development in the NYC market, based on tax structure that we recommended
  • Various combinations and permutations of sites were considered, including sites in Manhattan, Queens and Brooklyn, as well as transformation of Resorts World NYC (Aqueduct) and Empire City (Yonkers) into full-scale casinos.
  • Consideration of optimal gaming license fees
• Evaluating the historical performance and projecting future performance of existing casinos in New York State
  • Collecting an aggregation of player database data for existing facilities, and evaluating what it means in terms of gaming participation rates and per capita gaming expenditure in New York, by county
  • Touring existing facilities to gain an understanding of what is keeping facilities from reaching their market potential
  • Projecting future revenues by facility and region of New York, considering potential changes to regional market supply