As multiple casinos in New Jersey’s Atlantic City appear headed for closure and a Moody’s report downgraded the outlook of gambling nationally to “negative,” Gov. Andrew Cuomo said it’s now up to the private sector to make casinos in New York a success.

“The private market, which reads Moody’s, which does this for a living, which is going to invest their money, will make a determination as to what scale and scope the market can support,” Cuomo told reporters after today’s economic development announcement at General Electric’s Niskayuna campus. “And they will then build the buildings and employ people and run the business because they think it’s a good business to run.”

State gaming regulators are currently reviewing the proposed casino projects in three different regions in the state: The Albany area, the Southern Tier and the Hudson Valley Catskills region.

Four casinos in the three regions will be built in the first phase of casino construction.

The concern over the gambling industry’s health comes in part from the saturation of casinos in the northeast.

Cuomo added he was confident, however, in the casino companies and developers who are seeking the lucrative licenses.

“I’m sure they will propose what they believe will be successful,” Cuomo said. “The state isn’t building any casinos. The state isn’t spending any money here. These are private companies which normally know what they’re doing.”