Gov. Cuomo on Wednesday called for the “largest convention center in the nation” to be built at the Aqueduct Racetrack in Queens.
Folks learned later that the deck was stacked: Team Cuomo had already inked an agreement for such a project with an Asian-based firm, Genting, whose subsidiary runs the racino there.
And officials had already discussed “casino expansion” at the site and agreed to “work together” on plans — even as Cuomo pushes for a constitutional amendment to allow broader gambling in New York.
Public input? Ha! Even Mayor Bloomberg was left out of the loop.
Competitive bidding?
Cuomo’s never heard of it.
And never mind that Cuomo’s predecessor, David Paterson, and Democratic lawmakers got themselves in gobs of trouble for initially steering the racino itself to a single, politically favored firm — AEG.
The state’s inspector general at the time, Joseph Fisch, called that fetid deal a “betrayal” of the public trust, in which officials “focused on political gain at a cost of millions to New Yorkers.” Et tu, Andrew?
It’s true, as Cuomo & Co. note, that Genting offers to cover the expected $4 billion tab for the complex — and that such an investment could boost New York’s economy. (At least in the short term.)
But the public’s role would hardly be negligible: Nearby land required for the project is government-owned. There are hopes for “uninterrupted subway service” to Manhattan. There’s the needed OK from the state to let the plan move forward.
And there are reports that Genting might want exclusive casino rights in the city.
Surely other firms would want a shot at the action, too, right? Too bad — the fix seems to be in for the Asian-based firm.
Nor is the idea itself a sure winner. As the Manhattan Institute’s Nicole Gelinas asked on these pages last week, how many convention-goers eye hot junkets to Queens?
Meanwhile, the convention industry is in decline. And casinos rarely pay off as predicted (see: Atlantic City and Las Vegas).
Fact is, Cuomo’s very premise — that gambling deserves support because of its economic potential and the tax revenues it can gin up — is deeply flawed.
As a revenue-raiser, betting is little more than a regressive tax — to say nothing of the dubious morality of luring little old ladies, gambling addicts and get-rich-quick dreamers to part with their last dollars.
Sure, we’re sympathetic to the argument that adults should be able to gamble with their own money, if they choose.
But for the state to promote it, and perhaps even be a partner in it, is beyond unseemly. As economic-development strategy? Fuhgeddaboutit.
Luckily, it’s not too late to apply the brakes. And here’s a better idea for Cuomo & Co.: Ask Wal-mart to open there.