“What Genting is proposing is something more than just a casino,” he says. “It is a number of hotels, a convention center and so forth, and when you put in that kind of money, you have a really positive impact on the real estate in that neighborhood and beyond," he adds, noting that Coney Island has also been a much-discussed spot for gaming facilities.

The agreement, which calls for no more than seven privately-owned commercial casinos in New York, faces a vote by the legislature and a public referendum in 2013.

While New York State is already home to five Native American casinos, nine racinos and 29,000 electronic gaming machines, the state surrounded by rivals in Atlantic City, southern Connecticut and Canadian provinces – all locations with legalized casino gaming.

But as the discussion of casino gambling comes closer to fruition in New York, Spinola says Connecticut and New Jersey are “nervous right now.”

“We are about to become competition for them, he says. “Whether you like raising state revenue from gambling or not, the truth of the matter is people in New York State go and gamble. They gamble at an Indian reservation or Atlantic City, or they go up to Connecticut or they go to Pennsylvania. If it’s happening, New York shouldn't be putting its head into a hole in the ground and they should provide the kind of services that people want, the entertainment opportunities people want, and do it under a controlled circumstance, which the governor and the legislature wants to do.”