The Long Island casino, Jake’s 58, is about to embark on an ambitious $210 million enhancement and expansion project. This eagerly-anticipated venture slated to commence soon, is set to magnify the casino floor’s capacity, offering a total of 2,000 video lottery terminals (VLTs), pivoting the casino to an enviable center of entertainment, from its former status as a Marriott hotel. Expected to reach its grand conclusion by 2025, this significant development is projected to breathe a new lease on life into the casino’s guestrooms, enhancing their standards to aprime hospitality level.
The ambitious project is the handiwork of the Suffolk Regional Off-Track Betting Corporation (Suffolk OTB), who last summer unfolded their plans for the largest expansion of the casino since its opening in 2017. Their all-encompassing blueprint showcases not just an expanded VLT offering but also encapsulates a comprehensive renovation of the 210 guestrooms sprinkled across the property. The plan also features architectural enhancements to enrich the property’s entertainment value, such as an array of eclectic new restaurants and bars, an indoor swimming pool, a multilevel parking lot, and an effective sound barrier to minimize the noise intrusion for the neighboring residential area.
Equally exciting for local homeowners is the prospects of tax reduction. The project’s economic benefits imply that once the new casino floor is fully operational, the need for property taxes levied on Islandia Village will be a thing of past. This stunning financial breather would mean an annual saving sum of approximately $400 to $500.
Full of silver linings, this hefty investment is more than a mere commercial undertaking. Suffolk OTB President, and former New York state senator, Phil Boyle, outlines the community-centered vision behind the expansion. He states, “The casino’s growth and subsequent revenue increases will continue to benefit Islandia residents.”
The lucky break from property taxes is birthed from the Village of Islandia’s successful negotiation with Suffolk OTB to secure an amplified local share payment. As per the agreement, the annual commitment from Suffolk to Islandia is set to be boosted with a staggering rise of 89%, from the erstwhile annual payment of $2.25 million to a whopping $4.25 million.
Jake’s 58 is a crucial player among 11 VLT casinos in the state’s gaming scene, supporting state education and the maintenance of the gaming environment by contributing a substantial share of the gambling revenue. Despite stiff competition from other commercial casinos, Boyle is optimistic about Jake’s dynamic prospects to thrive in spite of competitive odds. Though the casino has no plans to vie for a coveted downstate license for expanded gaming services, Boyle is keen on augmenting the casino’s offerings to strengthen its patron loyalty further. He confidently shares with the New York Post, “I think regardless of where those casinos are located, we are going to be able to compete very well. We have a very loyal following.”
The elaborate construction project is set to change the existing system tangibly, benefiting both the locals and regular patrons. With the New York Gaming Facility Location Board stating that the downstate licensing process will extend into late 2025, Boyle is aiming to complete Jake’s expansion and makeover by next year. He asserts that the operation’s completion will likely prompt a 42% surge in gaming win in its first year, indicating that the gamble taken by Jake’s 58 could indeed pay off royally.
