$70 Million License Fee For Casino In New YorkPrice Of License Would Vary Depending On Region |
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The Empire State will eventually be home to a handful of additional casinos, as voters last year authorized four commercial facilities in different parts of the state.
In order to get a license to build and operate, firms must be approved and pay the state a fee, which will cost between $20 million and $70 million, according to a report.
A group of state officials unveiled the price tags this week, the report said.
The highest fee would be charged for a casino built closer to New York City.
There reportedly are at least a dozen groups interested in investing and building in the state. An application deadline has been set for June 30.
New York regulators will use up to $1 million to investigate each applicant.
While the brick-and-mortar casino business further develops in New York, some there will also begin talking about the idea of legalizing online poker. A law was introduced last week that would allow up to 10 licenses for such activity. However, the lawmaker who introduced it doesn’t plan on pushing it this year. There’s just too much going on with the new casinos to pass another expanded gambling bill, one that includes online betting.
Even though the new casinos are great news for gambling interests in the state and elsewhere, there was some disappointment with the fact that a new casino won’t be allowed in New York City for at least seven years. The plan was to generate economic activity for upstate.
Things have been moving quickly since the authorization by voters in November of last year, as a chairman for the state’s Gaming Commission was picked.
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