NYC lawmakers propose bill to speed up casino license approval process
If passed, new casino bids could gain licensing by next spring.
Two New York State legislators have pushed to speed up the process for issuing casino licenses in the area, according to a recent New York Post local report.
Both Senator Joseph Addabbo and Assemblyman Gary 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.
During the past 12 months, New York has taken in more than $19bn in sports wagers. The Empire State’s mobile sports wagering handle climbed to $1.9bn last month, reflecting more than a $300m increase when compared to results from one year ago.
Last month’s handle ranked among the highest results to date since the Empire State opened the market for mobile sports wagering. November remains the top month since the market’s opening, according to the commission’s report.
In other state news, CDI recently completed its sale of 49% of its United Tote Company subsidiary to the New York Racing Association’s subsidiary, NYRA Content Management Solutions, LLC.
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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