While online poker may not become a reality for 2016 within the state of New York., an online poker bill is still slowly moving forward. A bill that would legalize and place regulations on online poker gaming within the state moved out of committee and is now going to be considered by the full Senate.
Since February, the bill has been sitting with the Senate Finance Committee and was amended this past May. The bill will now be voted on within the Senate but a date for the vote has yet to be made clear. Earlier in 2016, the measure was passed within the Racing, Gaming and Wagering Committee.
The Assembly has a companion legislation on the table but there has not been progress seen with that measure as with the one now moving on to the Senate. This measure is for poker only and lawmakers would like to try and see casino operators in the state get behind the plan.
In regards to online poker gaming, the state would have a 15% tax rate place on revenues from online poker gaming. There will also be a $10 million licensing fee for those who wish to offer online poker operations. It is believed that once the market is established and has operated for one year, New York will have created an online poker market worth around $120 million.
Legislation for daily fantasy sports is also under consideration in the state and seems to be on the path to passing first, before online poker gaming. Gaming is happening in full force within the state as legislators are working on the online poker legislation, DFS legislation and new land based casinos are in the works.
It will be interesting to watch in the coming weeks what developments occur as the state continues to move forward in several areas of gaming.
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