Currently, in New York, there are two racetracks at which slot machines are available for gamblers. The lawmakers have recently introduced a new budget bill that will give additional points to the racetracks with casinos if they get a full license. Online wagering services, like PlayAmo online casino, are still far more popular with gamblers than racinos.
One of the members of the US Senate that the new bill was amended, and it now suggests collecting information about the proposed casinos. According to the NY Governor, this will not bring any profit to the state. The Gaming Assembly does not support Cuomo’s proposal to request information about the casinos.
A new bill will now include the detailed fixed structure with a strict time frame. The Gambling Commission of New York will publish license proposals by the middle of summer. It will take up to five months for the committees to approve the license application. If the application gets approved, a casino must pay $500,000 of fees within a month.
New System for Casino Scoring
A new bill will require the officials of the committee to assess the casino’s application based on various criteria. It will include the proposal of economic activity, the impact on the local level and the increasing number of employees. The most important factor is the economic activity and whether the candidate will be able to show the ability to start a gambling business fast enough, aiming to make revenue for themselves and for the state.
Right now, two casinos in New York manage racinos with video lotteries and electronic table games. If racinos get a full casino license, they will be able to offer table games and slot machines. This upgrade will also be good for the state as it will get more tax money. It is reported that casinos will need to pay almost $800 fees for each slot machine or table game every year. The two casinos Empire City and Resorts World, are planning to build a new resort on their territories that will create more jobs for people.
New York Governor Cuomo has said that the state now intends to cut off some programs and increase taxes to level out the budget for the next year. New York state also received almost $13 billion of financial aid. He has also said that the casino opening will bring enough revenue for the state.
Not everyone is optimistic about transforming Resorts World and Empire City into casino-resorts as there might be legal issues and difficulties with getting the license. Such transformation will create a lot of short and long-lasting revenue for the state and provide thousands of jobs.
There should be another meeting concerning the bill to organize the budget for the next year. The lawmakers must amend and submit the bill as soon as possible as the new fiscal year will start from April 1. The Governor of New York must sign the bill by that time.