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The Yonkers Raceway in Yonkers, New York is hoping to soon be able to add table games such as craps and blackjack to their gaming floor. The gaming facility would like to make a rather large expansion of their offerings but they need a city tax deal to go through before they can do so. The raceway is looking to create a $40 million expansion which would create about one hundred full time jobs. The raceway would like to see several tax breaks including a $1.8 million mortgage tax exemption. The exemption would cost the city $500,000 but would allow the raceway to add the expansion.
Yonkers Raceway wants to add about 60,000 square feet of additional space which will include four hundred new gaming tables as well as three hundred and fifty video lottery games. The new space would create one hundred permanent jobs as well as part time jobs.
Next week the Yonkers Industrial Development Agency will hold a hearing in City Hall which will see a review of the proposal and a final approval is expected. The Mayor of Yonkers as well as the chairman of the YIDA, Phil Amicone, commented on the new proposal by stating:
Empire City at Yonkers Raceway has already generated tremendous economic benefits to this city both in jobs and in tax revenue. This expansion will add to that equation—creating new jobs while protecting an important local business that is facing a direct competitive threat from Aqueduct just a few miles away. We look forward to reaching a fair agreement that allows this project to move forward.”
2011-06-10
