Phil Boyle spent nearly a decade as a state senator in New York.
Now, he’s looking to build an equally long future as the executive director of Jake’s 58 Casino on Long Island. This week, Boyle exited his position as a state senator and will take on his new role at the casino on Monday.
“I think I can leverage my contacts made over three decades in government to help Suffolk OTB get to the next level,” Boyle said in an interview with Newsday. “I think Jake’s can be even more successful than what it is. The sky’s the limit.”
Boyle’s arrival comes at the perfect time for Jake’s 58 Casino
Jake’s 58 is on the verge of a big boom in business. The state legislature has already approved a bill that would double the number of slots at Jake’s from 1,000 to 2,000. If Gov. Kathy Hochul signs the bill, the added slots would boost the property’s parking from 600 spaces to 2,000.
Boyle knows the bill well as he was a co-sponsor.
Boyle has long been a casino proponent
If Boyle’s name sounds familiar, there’s a good reason for that. He authored a bill back in 2013 that proposed a new off-track-betting (OTB) casino on Long Island with 2,000 slot machines. At the time, the negotiations were a closed-door matter and went against then-Gov. Andrew Cuomo’s wishes to build three upstate casinos.
The following year, Boyle became the chairman of the Senate Committee on Commerce, Economic Development, and Small Business. He’s certainly no stranger to business operations, and his acumen will likely provide Jake’s 58 a boost in exposure and, in theory, revenue.
Jake’s 58 President Tony Pancella is a firm believer that Boyle will make an impact.
“Phil’s experience with racing and wagering on the state level will be a natural asset to our team as we continue to grow, and I welcome the opportunity to work with him,” Pancella told Newsday.
Jake’s 58 net win could surpass $40 million after expansion
If Jake’s gets another 1,000 slot machines, then the casino could be in for a massive boost in revenue. The facility has brought in more than $20 million in net win for the past six months:
- September: $20.66 million
- August: $22.33 million
- July: $21.91 million
- June: $20.88 million
- May: $21.75 million
- April: $21.67 million
Should the governor allow another 1,000, the casino’s monthly net win could reach $40 million and boost six-month net-win to around $250 million. For comparison, the casino’s net win for fiscal year 2021-2022 was $248.74 million.