New York: A lack of efficiency

Would you be able to provide an updated outlook on the casino bidding process in New York City since Governor Kathy Hochul vetoed legislation that would have expedited the process in November?

This is a vote we took in 2022 to expedite these three licenses, and we did so thinking there’d be action and activity in 2023, and we could at least acknowledge the revenue from the three licenses. Here we are talking about this in 2025, so it’s not a picture of efficiency at all.

Considering we’ve done four upstate licensed casinos in a fraction of the time, this is where it can take way too long.I had a piece of legislation that looked to codify time frames so that the people of New York can realize when these jobs will come about and unions can figure out when they are going to start the construction jobs. The Governor vetoed it, basically saying she already has a time frame set out, at least verbally, in June of this year to stop the application.

Then, she accused me, so to speak, of changing the process when the process had already begun. But we can’t even begin to compare these proposals until the process actually does start. When someone asks me which proposal I like, I don’t even know how to answer because I’m unsure of how many bids we have to consider.

We need to start the process and I thought we could have started the process back in August, which was when my bill said we should start. But nevertheless, here we are talking about this, and you and I can have this conversation in 2026, maybe even 2027. I hope we don’t, but we could because there’s nothing codified.

We have to hope the Governor sticks to her word and starts the process in June. I am optimistic we can, and we’ll take it from there.

Within the veto, Governor Hochul stated that changing the timeline of the bidding process could hurt certain bidders while helping others. Do you believe that would have been the case and is there a codified timeframe for when bids will be accepted?

There is no codified timeframe at this point, although I will be introducing legislation to do so. The waiting period has been seen as helping some and frustrating others. I’ll tell you about the frustrating part. I’m frustrated, but we have iconic names in the gaming industry getting frustrated.

We have people who are ready, who have been ready to submit a plan, but they’ve been told to wait… and they don’t know why. Nobody knows why. The Governor’s people may say it’s to allow some people to figure out their land-use issues. Well, some of these entities have had two years to figure them out. You can start a process and have applicants submit their proposals while working out their land-use issues. But no, we’re going to wait and it’s frustrating. It’s not a picture of efficiency.

What would the primary benefits be for residents and lcoal businesses after placing a casino in New York City?

There’s obviously the tax revenue that would be generated, which I’m sure would help with a number of initiatives.I have witnessed the benefits and concerns of opening up a casino in a community, because I live right near Resorts World. I have witnessed it from ground-breaking to ribbon cutting and now 12 years later. Resorts World has been a great neighbor; we had our concerns about criminal activity, traffic patterns, infrastructure, but none of those things came to fruition. We handled each issue as they came about.

I tell my colleagues who have the possibility of having a casino in their district that they can create great union jobs, thousands of them, so that people could live and work in your district for the next 30-40 years. It’s a once-in-a-lifetime opportunity because we’re only doing three licenses; we’re not doing any more.

For elected officials, you have these opportunities at your disposal when dealing with the possibility of having a new casino in your district. There will be fears and concerns of the unknown, but there is not a fear or concern that cannot be addressed in my opinion. Every site is different, every geographic location is unique and we have to deal with it in those terms as well.

Are there any proposals you believe that stand out while the bidding process is still ongoing?

They are all good entities and iconic names within the gaming industry. I want the state to welcome them in and, again, none of them are getting frustrated. They all have different components, entertainment, housing, whatever it may be and of course, the gaming site. That’s why I wanted to get the process started, because once you get the process started and they submit, now you know what the proposal is going to be.

Once we start the process, then we get this comparison of ‘hey, this one’s good, but this one’s better.’ You only have three shots, and you’re not looking for the shiny penny that’s only nice for a couple of years before dulling out. We have to look 20, 30 or 40 years down the road. Is this still going to be an optimum site for New Yorkers? I really look at these proposals with anticipation of getting the process started.

Is 2025 still a realistic goal for this process to be finalized, or are we witnessing momentum shifting towards 2026 and beyond?

No, I believe we can be done in 2025. Again, it all depends on how many actually apply. Up to 12 is manageable, but once you get to 13 or 15, if there are that many proposals, some may not be as credible, which is just timeconsuming. But if we keep it to a manageable number of applicants, we can move through this quite quickly. I do believe with a little initiative and a little effort on the Gaming Commission and Governor Hochul’s side, we can have the three operators or the three sites named by the end of 2025.

In more recent news, you introduced legislation that would have legalized iGaming in New York, but were unsuccessful for a third time, what factors led you to believe a different outcome could occur?

There’s always a sense of optimism whenever I introduce this bill and stop the budget process. For this year, there were three new factors to consider and two within the gaming industry.

We are now looking at sweepstakes casinos. These are already classified as online gaming, but they are currently unregulated. They find a loophole because they don’t accept cash, but consumers buy virtual coins that can be turned into cash prizes. That’s gambling, and I have a feeling that they are trying to market to a younger demographic, which concerns me. Then, you have cryptocurrency, which is getting into the arena of sports betting and targeting the Super Bowl.

They already took up more than $1bn in bets and handle for this cryptocurrency population to bet on the Super Bowl.These are two reasons why we need to regulate iGaming in New York. The other point I like to make is the fiscal condition of the state. We’re okay for this year, but in 2026 there is a $3-6bn dollar deficit and it grows even bigger for 2027.

Once you consider that, there is going to be a need for significant and sustainable revenue going forward, because we can’t just keep taxing people and we can’t keep cutting government. That’s why you need to do iGaming and enact it in legislation. It will take about a year to fully introduce because iGaming is not just a light switch we can flip on and off, which is why I believe we need to get started prior as soon as possible.

How can iGaming complement brick-and-mortar casinos in New York as legislation continues to face opposition from groups such as the Hotel and Trades Council?

I think iGaming actually helps a brick-and-mortar site through cross promotion. Some players in the state want to gamble but don’t want to travel to brick-and-mortar sites, meaning those properties can say ‘hey, download our app and play here.’

We are willing to work with the Hotel Trades Council, who I’ve been a fan of and worked with in the past, but I also believe we have the opportunity to be a model state. The other states would turn around and go, ‘wow, look at New York, they did legislation that protects and increases brickand-mortar jobs, but still offers iGaming.’

We could be creative with legislative language, but it can’t just be me. I need initiative on the Governor’s side and the Trade Council to get together and figure this out. I’ve been talking about this for three years now. Every year, we lose about $1bn to neighboring states and illegal markets for iGaming. I want to go forward. We need the revenue, we can do this and let’s get to work. Let’s roll up our sleeves and I really hope it’s soon.

Kirk Geller

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