New pawn shop open for biz near Aqueduct

Betting on racino: New pawn shop open for biz near Aqueduct
BY Mark Morales
DAILY NEWS WRITER


The first bet has yet to be laid down at the Aqueduct racino, set to open in late summer.

But one spinoff business already has set up shop in anticipation of when customers' hot streaks run cold.

Amit Verma, owner of the pawn shop Nassau Buyers on Rockaway Blvd. in Ozone Park, said he's anticipating a flurry of business once Resorts World New York opens.

He said the shop is more than just a smart business move - it's a service.

"I'm not here to take advantage of people. I'm here to help as much as I can," said Verma, 28.

"When [gamblers] run out of money, they usually have a nice Rolex, some jewelry or a diamond ring. They'll either sell it to us or pawn it."

Verma said he heard from a friend four months ago that the racino was moving to town. His brother found space for the shop a block away from Aqueduct.

Nassau Buyers opened for business a month ago, Verma said, noting he expects to bring in 30 times the business he's doing now.

"We're seeing 10 people a week. We're expecting 300 people a week," he said.

But critics of gambling said pawn shops are omens of the dark side of the industry.

Jim Maney, executive director of the New York Council on Problem Gambling (NYCPG), said these businesses enable addicts who desperately try to win back their money after hitting a cold streak.

"The moment you start chasing your losses, that becomes the cycle. Even if you make it back once, you'll believe you're going to hit it once again," Maney said.

Elizabeth Braton, chairwoman of Community Board 10, said she will press the NYPD to make sure the pawn shop doesn't attract the wrong kind of clientele.

"We will be urging the Police Department to be proactive and discourage those who are trying to illegally pawn stolen property," she said.

Verma said he has talked with racino officials to advertise there using flyers and billboards once it's up and running.

But racino officials denied the claim.

If business does as well as Verma anticipates, he said he'll expand to other locations nearby.

Another pawn shop is under construction across the street from Verma's store.