Despite an attempt to get online casinos in the Empire State this year, New York Gov. Kathy Hochul didn’t recognize iGaming in her 2024 executive budget release Tuesday.
The only gaming initiatives Hochul listed included pari-mutuels. That doesn’t mean the push for legalizing online casinos is dead, but it’s going to be an uphill climb at best.
Last week, Sen. Joseph Addabbo introduced SB 8185, which calls for legalizing “any internet-based version or substantial equivalent of a table game, slot machine ... or any other game as set forth and approved by the commission.”
This marks the second consecutive year he’s taken up this cause, but Gov. Hochul has repeatedly had no interest in allowing online casino operators access to New York’s large population that’s created a thriving legal sports betting market.
Addabbo doesn’t want to heavily push New York online casinos without the governor’s support, moving the likelihood of getting anything done to 2025 unless the legislature changes course.
What’s in the bill?
Addabbo’s legislation calls for an amendment to the sports betting law that would allow mobile sportsbooks, commercial and tribal casinos already established in New York, and video lottery terminal companies the ability to operate online casinos table games, slots, and poker.
Their revenue would be taxed at 30.5%, and it would cost $2 million for an online operator to receive a 10-year license.
Addabbo presented a similar bill in 2023 that didn’t get much support at all from the governor or legislature, despite Addabbo’s plea that additional gaming tax revenue would aid the Empire State’s growing budget deficit and make New York the top online casino market in the U.S.
Gaming initiatives
Hochul’s gaming focus in the 2024 budget involves a pair of horse racing initiatives. The first is to extend pari-mutuel tax rates and simulcast provisions another year, an act that has to be done with each new budget.
The other initiative extends Capital Off-Track Betting Corporation’s ability to spend $1 million of its capital acquisition fund on operational expenses for another year, pending certain provisions met.
