Dems urge Hochul to block 72% tax hit on NYC’s new casino
Queens lawmakers urge Gov. Hochul to intervene in a tax plan that would push Resorts World New York City’s slot revenues to a 72% tax, formed by a 56% slot tax plus a 16% separate racing obligation. The Gaming Commission says the racing payment is not a tax, and Hochul says tax rates do not include racing obligations. Lawmakers warn the uncertainty could jeopardize Resorts World’s planned $4 billion expansion, along with thousands of jobs and opportunities for minority contractors.
