Issuance of the $500m Downstate New York Casino Licenses Could Take Until 2025

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It looks apt that nan issuance of 3 downstate New York commercialized licenses could return until 2025. [Image:]

A slow process

It looks for illustration New York will person to hold immoderate clip for nan issuance of downstate commercialized casino licenses. The first dream was that nan New York State Gaming Commission would commencement accepting charismatic bids during nan first fewer months of 2024. Industry insiders speculated while speaking to Newsday that it mightiness not beryllium until early 2025 that regulators grant nan licenses.

still needs to rumor responses to nan hundreds of questions prospective bidders submitted

The Gaming Facility Location Board still needs to rumor responses to nan hundreds of questions that prospective bidders submitted. As soon arsenic nan committee does so, a 30-day play during which group tin commencement bidding will begin. The regulator will past request to cautiously reappraisal each exertion earlier delivering its last judgements.

No affirmative signs

Bidders besides request to guarantee that they do not person immoderate zoning issues pinch their chosen locations and to unafraid astatine slightest two-thirds support from a section organization advisory committee. New York City Mayor Eric Adams has projected changes to zoning laws that would make it easier for casinos to beryllium built successful astir business and commercialized districts. The City Council besides would not person to reappraisal and o.k. each site.

Governor Hochul plans to usage nan licence interest money aliases thief money transit improvements successful downstate New York.

One of nan clearest indicators of a hold successful nan licensing process is that lawmakers did not mention nan 3 $500m downstate casino licence fees successful nan precocious published fund for nan 2024-2025 fiscal period. This scheme outlines nan state’s expected gross up to nan extremity of March 2025.

Plenty of competition

About a twelve groups person expressed liking successful bidding for 1 of nan 3 downstate casinos licenses. MGM Resorts International and Genting already person slots parlors successful nan region; experts judge they person nan wrong way connected 2 of nan licenses.

a Jay Z-backed Times Square casino

That leaves a azygous licence for nan rest, pinch immoderate of nan absorbing pitches including a Jay Z-backed Times Square casino and a edifice beside nan New York Mets’ Citi Field.

The caller fund announcement besides was not bully for group who are waiting for ineligible online casinos successful nan state. Governor Kathy Hochul didn’t mention iGaming legalization, truthful a measure from Senator Joseph Addabbo doesn’t look for illustration it will make overmuch advancement this year.

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