New casino licenses appear to be getting longer in New York City, with related bill stalling.
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Il New York City Casino Licensing Process It looks like it might drag on a bit longer than some lawmakers had hoped. As the state continues to see bids from major gambling companies to bring a casino resort to the Big Apple, a bill has passed both chambers to set deadlines for the licensing process.
However, as highlighted CardPlayerafter two months the Democratic Governor Kathy Hochul has yet to sign the bill and it looks like that may not happen at all. This delay is critical because The bill passed in June and set an August deadline for submitting bids.
“I’ve been trying to get the process moving,” he told the New York Post in May. Democratic Congressman Gary Pretlow. “It’s taking too long. We’re leaving $2 billion on the table. Why are we going on like this?”
The bidding process started in 2023 and in June The New York Gaming Facility Location Board has approved a new deadline of June 27, 2025 for all bids to be submitted.
The state is awarding a total of three licenses in the New York City area, including two for existing properties and one for a new property.
There are numerous players in the bidding process with plans that have included casinos at Coney Island, Citi Field (home of the New York Mets), Nassau Coliseum and numerous others. Rapper Nas has also been involved in a plan to license the Resorts World casino expansion at Aqueduct.
“The legislation sets a minimum licensing fee of $500 million, but gives the New York State Gaming Commission the ability to accept higher bids,” gambling industry analyst John DeCree told the Las Vegas Review-Journal. “The tax minimums for slots and tables are expected to be set at 25 percent and 10 percent, respectively, but will ultimately be determined by a competitive bidding process similar to the mobile sports betting licensing process.”
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