The New York Senate has approved a bill to expand the state’s iGaming program, which will now allow casinos in areas under federal jurisdiction. The measure comes as America’s gambling industry is on the cusp of being regulated by lawmakers for the first time since 1992. Experts have said that this could be just what upstate New York needs for long-term economic development and job creation..
Despite recently creating a fast-track process for downstate casino licenses, New York legislators are still working hard to grow the state’s gambling industry. The New York Senate began its post-budget legislative session this week, and it announced that it would fund proposals to expand the Empire State’s regulated gaming business.
Local lawmakers passed a final budget for the new fiscal year at the beginning of April, and the new plan contained provisions to expand land-based casinos by speeding up the issue of downstate casino licenses. However, the much-anticipated expansion of mobile sports betting companies was left out of the budget, and politicians are now striving to make it a reality.
Discussions are now underway.
Sen. Joe Addabbo wants to see fixed-odds betting on horse races, in addition to a greater number of mobile sports betting applications and the legalization of internet gambling in the state. Before the conclusion of the current parliamentary session on June 2, 2022, he wants to add the vertical in mobile sportsbooks.
Mr. Addabbo has made it his top objective for the fiscal year 2023-2024 budget to include online casino gaming. Discussions on the subject are expected to begin in December, with the governor’s January Executive Budget being a possibility. He and other politicians are now preparing the groundwork for the vertical to be included in next year’s budget, he added.
The Racing, Gaming and Wagering Committee approved Bill S8471, which allows additional online sports betting companies to operate in the state, and Bill S8412, which decriminalizes iGaming in the state. State racinos, on the other hand, have raised worries that if internet casino gambling in the state is confined to properly regulated companies, it might lead to cannibalism. Mr. Addabbo, on the other hand, promises that this is not the intention, and that it is a subject for future debate.
Self-service kiosks will be installed in stadiums, arenas, and racetracks around the state, according to the Senator. According to him, this is a bill that he would introduce now rather than waiting until next year. He predicted that the bill would be difficult to pass, but that MPs will debate whether they should be included or eliminated.
The Three Licenses in the Downstate
Empire State lawmakers have chosen to propose the long-debated acceleration of downstate casino licenses in their current budget. There are three full-casino commercial licenses available right now. Companies interested in purchasing one must submit an application to the New York State Gaming Commission. It will cost them about $500 million in license costs, if they get clearance from the agency.
Many politicians are pushing for the three licenses to be granted in New York City, with Empire City Casino in Yonkers and Resorts World NYC being two of the most popular options. However, Manhattan Assemblyman Richard Gottfried has said that he does not want a gambling establishment in the borough. He doesn’t like the notion since it might have a detrimental impact on the neighborhood.
Mike Mazzeo, Mike Mazzeo, Mike Mazzeo, Mike Mazzeo, Mike “Online Casino, Expanded Sports Betting Proposals Kick Off Post-Budget Legislative Session,” PlayNY, April 26, 2022.