[jjshabado]

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If gambling became legal, investors would build casinos and that would have a detrimental impact on the city's finance.

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How?

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I don't have statistics to prove the ramifications casinos have on neighboring areas, but if you have ever been to, or know the history of Atlantic City and it's current status, I'm sure you can somewhat relate to what I am talking about.

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You can't compare Atlantic City to a city like New York. Atlantic City was a dump before casinos. I'm more familiar with Niagara Falls and Windsor Ontario, and both places have made money off of their casinos. New York City is so big that allowing gambling would be just one more major industry, and the money that it would generate would be huge.