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Source/Full Story - GamingAmerica'
In order to conduct iGaming operations within the state, license fees would be set at $2m for each casino,
video lottery terminal facility or operator that gains authorization.
Key points:
- Within Senator Addabbo’s new bill, iGaming would officially be taxed at a rate of 30.5% of the license holder’s gross gaming revenue
- The bill would allow licensed iGaming operators to offer table games, slot games, poker and live-dealer games
New York Senator Joseph Addabbo has introduced bill SB 2614 to the State Senate which would officially legalize
iGaming for casinos, video lottery terminal facilities, online Sports Betting operators and Tribes located within the state.
Senator Addabbo has previously stated that the iGaming tax revenues generated by authorized operators would
help to fund a number of new initiatives Governor Kathy Hochul plans to implement throughout 2025.
His new legislation would tax iGaming at a rate of 30.5% of a license holder’s gross gaming revenues, while license
fees would be set at $2m for each casino, video lottery terminal facility or operator to gain authorization.
Any approved independent contractor looking to host an operator’s iGaming platform and display its brand
would therefore be required to pay a $10m license fee.
SB 2614 would allow licensed iGaming operators to offer table games, slot games, poker and live-dealer games,
but any live-dealer game will be required to take place in a live gaming studio that is based in New York.
Good to know: Figures published by the New York State Gaming Commission on January 13 revealed a $2.28bn
sports wagering handle for December 2024, while casino gaming revenue hit $56.96m
This is now the third consecutive year in which Senator Addabbo has introduced a bill that would legalize iGaming,
but has faced opposition from groups such as the Hotel and Trades Council.
The Union has long feared that iGaming legalization would negatively impact brick-and-mortar casinos that are located
in New York. Discussions have been held regarding a new casino being built in New York within the next few years,
as the Union hopes to preserve the brick-and-mortar business and its member’s jobs.
In hopes of appeasing the Union, the bill includes a fund that sets aside $25m in each fiscal year for purposes such as
employee training, responsible gaming training and education. Senator Addabbo has also stated that he is open to
negotiations with any opposition that would help iGaming legalization move forward in New York.
In order to conduct iGaming operations within the state, license fees would be set at $2m for each casino,
video lottery terminal facility or operator that gains authorization.
Key points:
- Within Senator Addabbo’s new bill, iGaming would officially be taxed at a rate of 30.5% of the license holder’s gross gaming revenue
- The bill would allow licensed iGaming operators to offer table games, slot games, poker and live-dealer games
New York Senator Joseph Addabbo has introduced bill SB 2614 to the State Senate which would officially legalize
iGaming for casinos, video lottery terminal facilities, online Sports Betting operators and Tribes located within the state.
Senator Addabbo has previously stated that the iGaming tax revenues generated by authorized operators would
help to fund a number of new initiatives Governor Kathy Hochul plans to implement throughout 2025.
His new legislation would tax iGaming at a rate of 30.5% of a license holder’s gross gaming revenues, while license
fees would be set at $2m for each casino, video lottery terminal facility or operator to gain authorization.
Any approved independent contractor looking to host an operator’s iGaming platform and display its brand
would therefore be required to pay a $10m license fee.
SB 2614 would allow licensed iGaming operators to offer table games, slot games, poker and live-dealer games,
but any live-dealer game will be required to take place in a live gaming studio that is based in New York.
Good to know: Figures published by the New York State Gaming Commission on January 13 revealed a $2.28bn
sports wagering handle for December 2024, while casino gaming revenue hit $56.96m
This is now the third consecutive year in which Senator Addabbo has introduced a bill that would legalize iGaming,
but has faced opposition from groups such as the Hotel and Trades Council.
The Union has long feared that iGaming legalization would negatively impact brick-and-mortar casinos that are located
in New York. Discussions have been held regarding a new casino being built in New York within the next few years,
as the Union hopes to preserve the brick-and-mortar business and its member’s jobs.
In hopes of appeasing the Union, the bill includes a fund that sets aside $25m in each fiscal year for purposes such as
employee training, responsible gaming training and education. Senator Addabbo has also stated that he is open to
negotiations with any opposition that would help iGaming legalization move forward in New York.
