NYC: Governor Hochul stalls congestion toll
This could accelerate the casino licensing process.
New York State Governor Kathy Hochul recently stalled the congestion toll, which could speed up the selection process for casino licensing, according to a New York Post local report.
State pols say that this “could generate billions of dollars of revenue for the MTA.”
State Assembly Racing and Wagering Committee Co-Chairman Gary Pretlow said he believes speeding up the process is advantageous for the MTA.
He commented, “We have to bring the casino deals to fruition – the MTA needs the money.
“The governor could open the bidding process right now and that could help the MTA.”
Both Senator Joseph Addabbo and Pretlow have backed a new bill that would accelerate the casino licensing approval timetable. The current set up has come under scrutiny by those looking to grant new licenses.
Under the terms of the proposed bill, bids would need to be submitted by July 31. The state gaming commission would be required to approve three licenses by the end of next March.
The push to speed up the process came after an announcement from the commission that gave a December 31, 2025 deadline for new casino license approval. Under the current regulations, there is no submission deadline.
Those who are granted licenses would need to put up $500m each for state gaming licenses. However, a lawmaker told the New York Post the amount “could be much more.”
Online sports betting in New York went live two years ago. To date, more than 35 states have embraced regulated sports betting since the US Supreme Court overturned the Professional and Amateur Sports Protection Act of 1992 (PASPA) in May 2018, also known as the Bradley Act.
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