NY Casinos Could Hurt Those In Canada, Operators Fear
Casino operators and local officials in Canada say business is already hurting and worry that if New York approves casinos upstate, both sides of the border could face economic struggles.
The Buffalo News reports that competition, a weaker dollar and a more restrictive border since the September 11 terror attacks have already cut into profits at Canadian casinos.
Profits from Canadian gambling facilities close to the U.S. border have dropped from $800 million to $100 million over the last decade.
New York is considering adding up to seven casinos off Indian land to go with the nine that already operated by the Oneidas, Senecas and Mohawks.
Western New York and Niagara Falls in particular are seen as desirable destinations for some of the casinos.
Thursday, July 31, 2014, Watertown, NY
On Wall Street