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Consultants agree that Manhattan on line casino bids in areas like Instances Sq. face an uphill battle due to an intensive licensing course of. [Image: Shutterstock.com]
Three downstate licenses
A panel of consultants mentioned the way forward for three downstate New York on line casino licenses on the Racing and Gaming Convention at Saratoga on Tuesday, casting doubt on the concept that a New York Metropolis on line casino will open anytime quickly as a consequence of a prolonged licensing course of.
licenses will value a minimal of $500m
New York will award as much as three licenses to casinos within the metropolis and its surrounding suburbs. The state expects that licenses will value a minimal of $500m for builders.
Nevertheless, two of these licenses could already be spoken for. Empire Metropolis in Yonkers and Resorts World New York Metropolis in Queens already function slots parlors within the metro space. Most observers consider that the profitable experiences these venues have in prime areas will give them a leg up within the licensing course of, that means just one allow is up for grabs.
Lengthy course of for NYC
The third and last license will entice fierce competitors from builders and gaming companies. Nevertheless, consultants on the Saratoga convention stated that potential bidders could have to attend a very long time earlier than opening a doubtlessly profitable venue.
bids on the remaining licenses might not be due earlier than January 1, 2023
Panel moderator Patrick Brown famous that bids on the remaining licenses might not be due earlier than January 1, 2023. A neighborhood advisory committee will even must approve any bid by a two-thirds vote. In New York Metropolis, that board will embody representatives from the mayor of New York Metropolis, the governor’s workplace, in addition to the related borough president, state representatives, and metropolis councilor for the placement in query.
Given the totally different pursuits of every of those people, Brown says gamblers could have a prolonged wait earlier than they’ll wager within the metropolis. “Getting six such folks to agree on something is a frightening, daunting activity,” Brown instructed the panel. “There’s a lengthy and winding street forward of us.”
Manhattan on line casino unlikely
Whereas the third license could properly go to a New York Metropolis location, consultants and legislators doubt {that a} on line casino will land in Manhattan.
That’s not for a scarcity of making an attempt. The New York Post reported that builders are plenty of areas, together with Instances Sq. and Hudson Yard. However native politicians are towards the concept.
“I don’t know one constituent who desires a on line casino”
“I strongly oppose a Manhattan on line casino in idea,” state Sen. Brad Hoylman, who represents Hudson Yards and Instances Sq. in Manhattan, instructed the Put up. “I don’t know one constituent who desires a on line casino. Outdoors forces desire a on line casino.”
As a substitute, Queens and Brooklyn seem like the favorites to land the ultimate downstate on line casino license. New York Mets proprietor Steve Cohen has lobbied for a on line casino close to Citi Area, whereas different builders are eying Coney Island as a possible location.