Jake's 58 Casino Hotel on Long Island preparing for $210 million expansion
ISLANDIA, N.Y. -- Just off Exit 58 on the Long Island Expressway is Jake's 58, one of the most lucrative casinos in the region.
Gamblers have been complaining there isn't enough parking and waits are too long for the video lottery terminals, but as CBS New York has learned, the casino is about to expand.
A bugle call on Monday announced big changes coming to Jake's 58 Casino Hotel and gambling parlor in Islandia, a $210 million expansion that will double the betting terminals to 2,000 and more than triple the number of parking spaces. All of that is expected to increase revenue by 42%.
"We are one of only two government-owned casinos in the United States. All of our profits go to the New York State Education Department for schools, and to Suffolk County," said Phil Boyle, president of Suffolk OTB.
"We are going to be spending that money. We are going to be reinvesting in the county, reinvesting in our infrastructure," Suffolk County Executive Ed Romaine said.
The plan calls for new pubs and restaurants, space for conferences and wedding receptions. Construction is expected to take two years.
"We are going to create 800 highly skilled union jobs over next two years and 125 permanent jobs," said James LaCarrubba, vice president of Suffolk OTB.
Islandia Mayor Allan Dorman says homeowners can look forward to a $500 a year savings because local property taxes will soon be eliminated.
"What better place is there to be than a tax-free zone in Islandia, here. You buy a house here and don't pay village property taxes," Dorman said.
Homeowner Fred Hoeffner said he likes the sound of that.
"It appears to be functioning well. Let's see what happens when it doubles in size. So far as the traffic goes, that will be something else to address," Hoeffner said.
But others living in the shadow of the casino fear for their quality of life.
"It's upsetting. There's going to be double the patrons, double people drinking and leaving, coming down our block, interrupting our neighborhood and upsetting our children at play," one Islandia homeowner said.
The expansion coincides with the state's plan for three downstate casinos, including one proposed at Nassau Coliseum by Las Vegas Sands.
Those winners wont be announced until late in 2025, but Jake's 58 says more casinos won't hurt them. Business in their gambling world is booming.
The Islandia taxpayer relief agreement eliminating village property taxes will expire in 2041.