There is a lot of buzz on the steps New York is talking about online sports betting. But, that is not the only thing about gaming fronting the news in New York. Starting last week, Wednesday through November 10, the New York State Gaming Commission is accepting questions about requests for information solicitation and responses by December 10, 2021.
Usually, gaming commissions ask for companies interested in operating a casino is a jurisdiction to submit proposals. With the request for information, interested companies and groups will send in their information. According to a lawmaker, using this method will lead to the state getting the funds it needs from casino gaming sooner than anticipated.
The information received by the commission will determine which companies are interested in the casino licenses. Also, officials will use the information to determine whether a specific area should be excluded from getting a casino or whether other areas will be preferred in the proposal process.
In April this year, lawmakers passed a state budget requiring the gaming commission to release a request for information to find interest in three licenses. The state targets to award these licenses to New York City, Putnam, Westchester, Long Islands, and Rockland counties. The state budget also calls for the gaming board to send a findings report of the request for information to Governor Kathy Hochul and the state legislature in six months.
Licensing Will Quickly Bring in Billions to the State
If the state’s gaming commission sticks to the timeline, it will release its report in June next year. At the time, New York will be winding up its annual legislative session.
The existing guidelines require the state to award licenses for the downtown casinos in 2023. This delay intentionally allows four upstate casinos to gain roots before other casinos in and around New York launch.
The plan to give three more licenses came before the COVID-19 hit the state. With the Coronavirus hitting New York pretty hard, it had to ask for funds from the federal government to balance its budget.
According to Senator Joe Addabbo, chairman of the Senate Committee on Gaming, Racing, and Wagering, it was time for the state to look internally for revenue. Addabbo said that New York could not continue seeking help from Washington DC every year for $12 billion or $24 billion.
Considering responses should come in by December, Addabbo believes it will give lawmakers time to include the three casinos in the state’s budget negotiations for 2022-23. Building these casinos will take a while.
But, New York will still get licensing fees which could be up to $750 million for each license. Addabbo also noted that the licenses were sitting idle while they could be creating thousands of jobs and improving the economy.
Resorts World and MGM Looking to Get a License
Resorts world runs out of Aqueduct Racetrack in Queens, while MGM Resorts International operates Empire City Casino north of Big Apple. However, these two brands operate video lottery machines and electronic table games such as three-card poker and blackjack.
The two cannot offer live table games because they are not licensed like casinos in the upstate. Resorts World and MGM are interested in getting full-fledged casino licenses to upgrade their operations. Other big brands are also interested in the licenses too.
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