The primary members of a panel that may in the end determine the place New York’s subsequent three casinos had been named on Monday, however there are nonetheless just a few extra steps that must be taken earlier than the Gaming Facility Location Board (GFLB) may even take into account doable candidates for licensure.
At its Monday assembly, the New York State Gaming Fee accredited the appointment of Quenia A. Abreu, Vicki L. Been, and Stuart Rabinowitz to the board. That transfer met the state’s Tuesday deadline of getting a majority of the five-member board in place.
The board placements additionally begin a 90-day clock to challenge the request for functions (RFA) for the on line casino licenses. That doc will cowl element aspiring candidates might want to embody of their proposals, in addition to deadlines for submissions and different key milestones.
However wait, there’s extra. Earlier than an utility may even get to the GFLB, it’s acquired to get by means of an area board, referred to as the Neighborhood Advisory Committee (CAC), and the zoning approval course of. For New York Metropolis, the CAC will embody appointees from Gov. Kathy Hochul and Mayor Eric Adams. It is going to additionally embody the sitting state senator, state meeting member, metropolis council member and the suitable borough president.
Outdoors of New York Metropolis, the CAC will embody the governor’s appointee, the suitable county govt, the sitting state senator and meeting member, and the municipality’s highest elected official. For villages, that might be each the village mayor and the city supervisor.
Getting previous the CAC requires help from two-thirds of its members. As soon as an utility has acquired the required native approvals, the GFLB will then conduct its evaluation for suitability.
The Gaming Fee has mentioned that it doesn’t count on any license awards till subsequent 12 months on the earliest.
The state has additionally created a website with details about the licensing course of and methods to contact the board.
Who’re the Board Members?
To serve on the GFLB, members have to be New York residents who don’t maintain public workplace or have a detailed relationship to somebody who holds a gaming license.
They’re additionally required to have at the least 10 years of expertise in sure “fiscal issues,” in keeping with the board’s web site. As well as, they have to even have a background in accounting, finance, economics, and industrial actual property. They could even have served as an govt in a big group.
Abreu serves because the president and CEO of the New York Ladies’s Chamber of Commerce, which she helped set up 20 years in the past. The Dominican Republic native who grew up in New York Metropolis beforehand served because the director of the Queens Financial Growth Company.
Been is a legislation and public coverage professor at New York College. Her background consists of learning the town’s land-use practices and writing about environmental points. She additionally served as a clerk to US Supreme Court docket Justice Harry Blackmun.
Rabinowitz retired final 12 months after serving 20 years because the president of Hofstra College. Earlier than that, he was the dean of the Lengthy Island establishment’s College of Regulation. He additionally was a co-vice chair of the Lengthy Island Regional Financial Growth Council.
Each state Sen. Joe Addabbo (D-Queens) and Assemblymember J. Gary Pretlow (D-Mount Vernon) instructed On line casino.org that they preferred having Rabinowitz on the panel as he additionally served on the board that accredited licenses for the 4 upstate casinos eight years in the past.
“It can be crucial that somebody has familiarity with how this course of works,” mentioned Pretlow, who chairs the Meeting Racing and Gaming Committee. “They’ll steer the newer members… it’ll cut back the educational curve for everybody else.”
Transferring the Course of Alongside
Whereas the Gaming Fee has given an actual timeframe simply but for the choice course of, Addabbo, who chairs the Senate Committee on Racing, Gaming, and Wagering, is looking forward to a course of that goes as swiftly because the sports activities betting course of went final 12 months.
The faster we get these functions in, the faster the gaming fee and the (GFLB) get to do their work,” he mentioned. “The faster the state will get to comprehend the income for its individuals, the academic funds for its individuals, the roles for its individuals, the dependancy funding, and applications for its individuals. So once more, all of us profit if this course of strikes alongside in an expedited method.”
The GFLB would be the panel to find out the price of the gaming licenses, which might be at the least $500 million every. The Gaming Fee will decide the gross gaming income tax charges as a part of the aggressive bidding course of, though casinos can suggest a tax charge of their utility, supplied their proposed charges don’t drop beneath 25% for slot machines and 10% for different gaming sources.
The method to award the three licenses began a 12 months sooner than anticipated after the state legislature accredited expediting it on this 12 months’s funds. Proponents of the transfer, together with Addabbo and Pretlow, mentioned issuing the licenses would assist rejuvenate the state’s financial system because it emerges from the COVID-19 pandemic and would assist increase a leisure and hospitality sector that suffered considerably from the closures and different restrictions put in place to guard the general public.
Whereas there’s hope the method can transfer rapidly, some individuals – together with former New York Gov. David Paterson – consider it can develop into a drawn-out affair.
Competitors More likely to be Fierce
It’s extensively anticipated that the on line casino licenses might be awarded to initiatives in downstate New York, roughly outlined as New York Metropolis, its northern suburbs, and Lengthy Island.
As soon as the RFA is launched, it’s extensively anticipated that MGM Resorts Worldwide, which operates the Empire Metropolis On line casino at Yonkers Raceway, and Resorts World, which operates a gaming facility at Aqueduct Racetrack in Queens, might be two of the candidates. Whereas they could be thought of casinos, they provide video lottery terminals, which function barely in another way than Las Vegas-style slot machines. Empire Metropolis and Resorts World additionally can not supply reside desk video games, nor can they’ve a retail sportsbook like full-fledged casinos.
Resorts World and MGM have touted their skill to rapidly remodel their properties into full-fledged casinos, which they are saying would assist the state start producing gaming revenues in an expedient method.
Nevertheless, a number of different entities are additionally anticipated to use. One which has already been introduced is Wynn Resorts, which is trying to develop a on line casino at Manhattan’s Hudson Yards.
That challenge could run into some native resistance as Manhattan residents and a few leaders have raised issues a few on line casino of their borough.