Senator introduces bill to legalise online casinos in New York
Bill S4856, introduced by Senator Joseph P Addabbo Jr, would include slots, table games and live dealer games.
US.- Senator Joseph P Addabbo Jr has introduced a bill that aims to legalise online casino gaming. Senate Bill S4856 would modify New York’s Racing, Pari-mutuel Wagering and Breeding Law by including a new article (article 15) for the regulation of igaming.
The bill covers online slots, table games and live dealer games. Poker is not included as another bill introduced by Assemblyman J. Gary Pretlow, already seeks to regulate the vertical. Four types of entity would be able to apply for online gaming licences: destination resort casinos, racetracks, Indian tribes with gaming compacts and operators with existing online sports betting licences.
Three additional interactive licences would be granted, contingent on the licensee being partially or entirely owned by members of a minority group. Each licensee would be restricted to signing agreements with one platform provider.
The bill proposes a licence fee of $2m, increasing to $10m if the qualified entity intends to use an existing platform provider’s branding. The licence will be valid for ten years. The New York State Gaming Commission (NYSGC) would be prohibited from licensing organisations or affiliated entities that conduct illegal gambling in markets where it is prohibited.
The tax rate would be 30.5 per cent on gross gaming revenue (GGR), to go into the state lottery fund for educational assistance. The state would distribute $11m from this fund annually for responsible gaming education and treatment.
If approved, the bill would make New York the seventh state to legalise online gambling. The state launched legal sports betting in January 3022 and reported record revenue of $1.79bn last month.
