Senator Joe Addabbo wants the Jets back in New York, specifically in Willets Point, Queens.
Addabbo, chairman of the NY Senate racing, gaming, and betting committee, realized it was a far-fetched idea at this point.
However, with NYCFC set to build a 25,000-seat stadium at Willets Point that could open in 2027, Addabbo wants officials to think bigger.
He wanted them to think about the 70,000 to 80,000 seat capacity stadium in Queens for Gang Green. The area could also include casinos and increased attendance for NY sports betting.
“This is a very big big opportunity, I understand. But I hate to miss opportunities.”
What Willets Point offers
The 61-acre development at Willets Point will include a football stadium, 2,500 affordable housing units and a hotel. On the same subject : Lexington African-American Sports Hall of Fame inducts all-time first class.
Is there room for a football stadium too? Infrastructure and traffic patterns must be addressed, especially with nearby Citi Field and the next potential casino project.
“I don’t know if that’s a hurdle you can’t overcome to realize the revenue and jobs that will come by bringing the Jets back,” said Addabbo. “The jet returning to New York will be monumental.”
Healthy discussion on Jets
Addabbo, who also wants to push for an online casino bill for the 2023 legislative session, also wants to have discussions about the Jets’ return to the Big Apple. This may interest you : The city struggles to find volunteers for youth sports.
“If you build a stadium — and I know it’s only 25,000 seats — but if you have that kind of incentive to build a stadium, if there’s an opportunity with land and leases that are expiring, we can connect the dots. , why miss this opportunity?” Addabbo said.
“They will have their own stadium, a newer stadium, more technologically advanced, with all new facilities and everything. To go to a new stadium as the New York Jets and the marketing behind it, it’s just going to blow it out of the water.
“And a genuine residual effect, at least for me, in terms of online sports betting.”
Jets history in NY
At the very least, Addabbo wanted some conversation. See the article : Sports Friday is a brief day.
The Jets played at Shea Stadium from 1964-83 before moving to East Rutherford, NJ in 1984.
They currently share the 82,500-seat MetLife Stadium with the Giants. However, the Jets (or Giants) could opt out of the 25-year stadium lease in 2025 if they give the state of New Jersey 12 months’ notice.
“Personally, it pains me to see the Giants and Jets being called ‘New York Jets’ and ‘New York Giants,’ — even with the Giants wearing ‘NY’ on their helmets — playing in Jersey,” said Addabbo, who appeared on City Council during the talk. An unsuccessful 2004-05 for the West Side stadium for the Jets. “It hurts me.”
Jets sports betting impact
Addabbo foresaw the possibility of Gang Green’s comeback further helping the Empire State’s already record-breaking online NY sports betting market.
NY made $1.54 billion in online sports betting handles last month. As of November 20, the NY online sports betting operator had combined handles of $14 billion, generating nearly $600 million in tax revenue.
“Imagine if New Yorkers actually had to bet on a New York football club that was actually called the New York Jets,” said Addabbo. “I think it’s a much more interesting business that we’re going to have for online sports betting.”
Casino plans in New York
Mets owner Steve Cohen continues to lobby for a downstate casino in the Citi Field parking lot in partnership with Hard Rock through New Green Willets.
Resorts World NYC is in the former Addabbo district. As chairman of the racing, gaming, and betting committee, Addabbo has been an advocate for Resorts World NYC. Favorite company to receive one of three downstate licenses, along with MGM Empire City.
“I will pass judgment until I see all submissions,” said Addabbo. “Two on Queens, you really have to convince the site board or gaming commission that in the long term this makes financial sense. That it’s not just a novelty. Is it sustainable? I think that’s a hard argument to make.
New York sports betting tax rate
Caesars CEO Tom Reeg became the latest executive to criticize the 51% NY tax rate on online sports betting, when he recently told LSR that the structure is “ridiculous”.
So far, lobbying and legislative efforts to reduce while increasing the number of operators have been unsuccessful. Operators know very well what they are getting into when they bid on rates, and they cannot change them yet.
“Someone has to make a credible and realistic argument that fiddling with the 51% will actually benefit the country,” said Addabbo. “Because you see the success of online sports betting, and you say, ‘well, why did you change that? Why are you messing with it? It’s been very successful.’ You want to add something to that.
“But if we can talk about it – and I think it’s a healthy discussion – either you do it or you don’t. But just discussions about tax rates or expanding carriers, these are all healthy discussions to have in terms of how do you improve the existing product in online sports betting.”
