The New York Metropolis on line casino licensing course of appears to be like like it could drag out a bit longer than some legislators hoped. Because the state continues seeing bids from main gaming companies to convey a on line casino resort to the Huge Apple, a invoice was accredited in each homes to set deadlines for the licensing course of to play out.
Nonetheless, after two months Gov. Kathy Hochul (D) has but to signal the invoice and it seems that won’t occur in any respect. That point lag crucial because the invoice was handed in June and set a deadline for this month to see all bids submitted.
“I’ve been attempting to get the method transferring,” Assemblyman Gary Pretlow (D) instructed the New York Submit in Might. “It’s taking too lengthy. We’re leaving $2 billion on the desk. Why are we stringing this alongside? We’re spinning our wheels right here.”
Invoice Stalled With Governor
The bidding course of started in 2023 and in June the New York Gaming Facility Location Board accredited a brand new deadline of June 27, 2025, for all bids to be in.
The state is awarding a complete of three licenses across the New York Metropolis space, together with two anticipated to properties already in place and one to a brand new property.
There are quite a few gamers within the bidding course of with plans which have included casinos on Coney Island, Citi Area (house of the New York Mets), Nassau Coliseum, and quite a few others. Rapper Nas has additionally been concerned in a plan for a license to develop the Resorts World on line casino at Aqueduct.
“The laws units a minimal license payment of $500 million however offers the New York State Gaming Fee the choice to just accept greater bids,” gaming trade analyst John DeCree instructed the Las Vegas Overview-Journal. “The slot and desk tax minimums are anticipated to be set at 25 p.c and 10 p.c, respectively, however will in the end be decided by a aggressive bidding course of just like the cellular sports activities wagering licensing course of.”
