Posted on: September 26, 2024, 09:59h.
Last updated on: September 26, 2024, 10:10h.
Jake’s 58 Casino Hotel on New York’s Long Island is undergoing a $210 million renovation and expansion, and construction on the resort’s new building in Islandia is set to soon begin.
Jake’s 58 is embarking on its next chapter as new competition is set to arrive in the coming years with three integrated resort casinos in the downstate region. While Suffolk Regional Off-Track Betting Corp. (Suffolk OTB), the parent of Jake’s, isn’t bidding for one of the three full-scale casino licenses that include privileges for slot machines, live dealer table games, and sports betting, the company is making a big bet to solidify Jake’s position in the New York gaming market.
Suffolk OTB President and CEO Phil Boyle says the investment focuses on attracting new patrons to the complex.
Once completed, the expansion will allow us to host corporate outings, conventions, trade shows, and musical events,” Boyle told Long Island Business News. “For example, I think Jake’s 58 will become the perfect venue for first responders to host their installation dinners. The possibilities are endless.”
Jake’s operates slot-like video lottery terminals (VLTs) through a central lottery system managed by the New York Gaming Commission (NYGC). The 11 VLT casinos in the state keep about 46% of the machines’ gross revenue and direct 44% to the state for K-12 public education. The remaining 10% is earmarked for gaming vendors and the administration of the video lottery central system.
Expansion Features
Suffolk’s $210 million investment includes each of the hotel’s 210 guestrooms undergoing a much-needed makeover. The current casino, which sits inside what was once a Marriott hotel lobby, is also being refreshed.
The expansion work that’s beginning this week is to construct a 110,500-square-foot building directly behind the long-standing hotel. The connected structure will expand the casino floor to double the number of VLT positions from 1,000 to 2,000. The new gaming area will also house a 17,500-square-foot VIP lounge and entertainment area.
About 3,500 square feet will be reserved for weddings, parties, and other events. A 200-seat food court is also in the blueprint.
Along with the building, Suffolk is investing in a 3.5-story parking garage that will accommodate up to 500 vehicles. Parking has been an issue at Jake’s, which currently only has surface parking lots. When busy, patrons, many of whom are older, must walk considerable distances to reach the casino.
Completion of the new facilities is scheduled for the first quarter of 2026. Once the expanded casino is up and running, local residents are expected to see their property taxes eliminated. Jake’s has pledged to up its annual commitment to the local Islandia government from $2.25 million to $4.25 million.
Sportsbook Plea
Though Jake’s isn’t pursuing full casino rights, Boyle does think state lawmakers in Albany should expand sports betting to VLT establishments, racinos, and off-track betting parlors.
There are three million people on Long Island and no sportsbook,” Boyle said.
Long Island sports bettors can’t visit a physical book without traveling upstate, at least until the three downstate casinos open, but New York is home to legal online sportsbooks.
