“The law will provide residents who now travel out of the county to recreate in gaming the opportunity to spend their money in their home county while bolstering educational and municipal services,” Nassau County Executive Edward Mangano said in a statement Tuesday. “This legislation will allow Suffolk County to keep tens of millions of dollars on Long Island to provide relief to local taxpayers, school districts and create jobs,” said Vanessa Baird-Streeter, spokeswoman for Suffolk County Executive Steve Bellone. Off-track betting corporations in Nassau and Suffolk would operate the video slot machine centers, officials said. Neither county has designated a site preference yet, though Nassau Off-Track Betting Corp. president Joseph Cairo said officials were discussing the OTB Race Palace in Plainview. He said access and parking are key issues at the facility, but added: “Our primary focus right now is the Race Palace.” Cuomo has touted the plan as a way to boost the upstate economy.
This article has been curated from Cuomo signs bill to expand NY casino gambling
They had called the recovery “moderate” after their last meeting in June. The Fed’s statement came on the same day the government said the economy grew at a subpar 1.7 percent annual rate in the second quarter. The pace was an improvement from the previous two quarters, which were revised lower. Still, growth remains sluggish and has been below 2 percent for three straight quarters. Most economists, including those at the Fed, expect growth will strengthen in the second half of the year. That’s because they believe businesses will spend more, stronger job growth will fuel more consumer spending and government spending cuts will weigh less on overall growth. “I don’t think the Fed will be ready” to slow its bond purchases in September,” said Brian Bethune, an economics professor at Westmont College in Santa Barbara, Calif.
This article has been curated from Fed mute on timetable for stimulus