New York Governor Vetoes Bill To Speed Up Casino BiddingHochul Says Plan Would Change Rules Unfairly |
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The New York City casino license bidding appears to be taking the slow lane to completion. Gov. Kathy Hochul (D) vetoed a bill last week that would have moved the deadline up for a process that will instead stretch into two years.
Lawmakers approved the bill in June and the plan would have set a deadline for bids to be received by the state in August. The governor cited the unfairness that could be created by changing the bidding process.
“Changing the timeline… would likely have the impact of helping certain bidders and hurting others,” Hochul said. “I cannot support a bill that aims to change the rules in the middle of the process.”
Delay Continues
Hochul failed to take any action for months and the bill languished past the deadline, making the plan virtually a moot point. The initiative would have not only set a deadline for getting bids in regardless if companies had received the appropriate zoning changes and approvals, but would also have directed the New York Gaming Facility Location Board to make selections by the end of December 2025.
Critics have argued that the extended process benefits potential bidders facing resistance for their projects or zoning and other issues. Some have also said the slow process could create concerns over corruption and is delaying revenue that could help the state offset projected budget shortfalls in the coming years.
“I’ve been trying to get the process moving,” Assemblyman Gary Pretlow (D) told the New York Post in May about the bill and setting faster deadlines. “It’s taking too long. We’re leaving $2 billion on the table. Why are we stringing this along? We’re spinning our wheels here.”
Several large gaming companies and developers are hoping to land one of the three licenses including" Mets owner Steve Cohen":https://www.cardplayer.com/poker-news/29368-new-york-mets-release-renderings-of-casino-stadium-project and even rapper Nas joining in on the Resorts World project.
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