New York Senator Joseph Addabbo has introduced a new bill seeking let the state’s racetracks and stadiums participate in the state’s mobile betting market.
Senate Bill 7536 would allow for agreements between mobile sports wagering operators and an off-track betting corporation, professional sports stadium or arena, franchised corporation or licensed racetrack to place self-service mobile sports betting kiosks at venues.
In addition the operator of video lottery terminals at the Aqueduct Racetrack in Queens – Resorts World – would also be able to install kiosks within the facility.
However there would be a delay before any terminals could be installed. SB7536 states that any agreement between an operator and racetrack would not be approved until 12 months after the bill came into effect, while deals between operators and stadiums or arenas could take up to 20 months to approve.
Should the bill pass, it would come into effect 90 days after it becomes law.
Having been formally introduced on November 19, the bill is currently with the New York Senate Rules Committee.
The new bill comes after New York state’s tender to award mobile sports betting licences concluded earlier this month, with two bids – comprising nine operators – recommended for licences.
The FanDuel-led consortium comprising DraftKings, BetMGM and Bally Bet was recommended, as was one of Kambi’s two proposals – involving Caesars Sportsbook, PointsBet, Resorts World, Rush Street Interactive and Wynn Bet. The latter consortium was also aligned with the Oneida Indian Nation and Saint Regis Mohawk Tribes.
At the meeting, a 51% gross revenue tax rate was confirmed for all participants – in line with the tax matrix published last month – with all operators to pay a $25m fee for their ten-year licenses.