New York Casino: License expected to cost ‘at least’ $1 billion. Lou De Aguila 21. March 2022 | UPDATED ON: 21. March 2022 Post Views: 112 New York would apply minimum licensing fees of “at least” US$1 billion each – double than initially expected – for those seeking approval to operate a downstate casino, according to a 2022-2023 state budget proposal. The state Gaming Commission needs to issue a request for applications by July 1, 2022, with a submission deadline of 60 days later. The licenses would be awarded by December 1, 2022, with ten-year licenses being issued Senate Authorize The Issue Of Additional Casino Licenses The Senate amended legislation to authorize the issue of additional casino licenses by limiting the number of facilities per zone and setting application scoring standards, including a diversity category, in order to “ensure that jobs and casino ownership reflect New York’s diverse workforce.” This follows the New York Gaming Commission’s October 2021 call for information, which was tasked with ascertaining operator interest in establishing and/or operating one of the city region’s three casinos. This was designed to assist the Commission in identifying the right size and scope of development, the value of the gaming facility license, and the award method to use. Top 4 Online Casinos For Players From New York in 2022 Slot Title Pay Back Key Features 1 Welcome Offer Up To $3,000 Payout rate: 97.89%Payout Speed: 2-4 daysWelcome Offer Up To $3,000Play NowOur score: Welcome Offer Up To $3,000Read more2 200% Welcome Bonus of Up to $2,000 Payout rate: 91%Payout Speed: 1-2 days200% Welcome Bonus of Up to $2,000Play NowOur score: 200% Welcome Bonus of Up to $2,000Read more3 250% Up to $5,000 Bonus + Free Spins Payout rate: 97.82%,Payout Speed: 1-3 days250% Up to $5,000 Bonus + Free SpinsPlay NowOur score: 250% Up to $5,000 Bonus + Free SpinsRead more4 Up to $12,500 Welcome Bonus Casino Payout: 98.01%Payout Speed: 3-5 daysUp to $12,500 Welcome BonusPlay NowOur score: Up to $12,500 Welcome BonusRead more New York Casino Gaming License According to state law, the regulator may pursue the development of three downstate casinos in New York, following former Governor Andrew Cuomo’s previous strategy of pushing for the inclusion of upstate gambling facilities in an effort to spur job creation and reduce unemployment in disadvantaged communities. Resorts World, MGM Resorts, Bally’s, Las Vegas Sands, and UE Resorts are believed to be interested. UE Resorts was formed by the combination of Miami-based SPAC 26 Capital Acquisition and Tiger Resort, Leisure and Entertainment, operating as Okada Manila. Additionally, the Senate claims that it has advanced a plan “to allow other applicants to apply for licenses for mobile sports wagering.” However, the request for proposals must include a scoring component that fosters market diversity in applicant ownership, leadership, and workforce, including minorities, women, and service-disabled veterans. This follows filings by Joseph Addabbo and J Gary Pretlow seeking to boost competition in the Empire State’s digital marketplace, which included a condition requiring the state to potentially halve the current tax rate of 51%. New York State Allowing Commercial Casinos and Slots This is based on the number of licensed mobile sports betting businesses, with the goal of having 14 operating by January 31, 2023, and 16 by January 31, 2024. In January, New York State legalized mobile sports betting, indicating interest in internet casinos. This would allow commercial casinos and tribal nations to operate online slots and table games within state limits, with each paying a $2m charge. About Lou De Aguila Lou Aguila is a news and feature writer for Golden Casino News. For over a decade, Lou has published news and featured articles for some of the most reputable sports betting and online casino sites in the world, including BetNow.UK, VegasOdds, and BWin. Apart from being a hardcore live casino punter, he also covers sports stories in North American leagues from time to time. View all posts by Lou De Aguila →