NY lawmakers push for faster casino licensing to boost revenue

NY lawmakers push for faster casino licensing to boost revenue

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NY lawmakers push for faster casino licensing to boost revenue

Two New York state lawmakers are promoting the speed up of casino permits in New York City, claiming that the state is losing out on billions of dollars in potential revenue because of the current timeframe.

The last few days of the state legislature’s session are when the push occurs.

Senator Joseph Addabbo and Assemblyman Gary Pretlow have proposed a bill requiring that bids have to be submitted by July 31 this year, and the New York State Gaming Commission would have to approve the three casino licenses by March 31 in 2025. Currently, the state Gaming Commission is expected to award licenses by December 31, 2025.

There will be three downstate casino licenses issued by New York in the near future. In order to obtain one of these permits, operators have to adhere to specified environmental standards based on the SEQR (State/City Environmental Quality Review Act). There are eleven confirmed candidates. Among the operators that have put out initial proposals are MGM Resorts International, Wynn Resorts, Las Vegas Sands, and Caesars Entertainment.

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