New York Senator Joseph Addabbo Jr. has introduced a bill to the state Senate that would legalize online casino in the Empire State.
Titled Senate Bill S4856, the bill seeks to amend New York’s Racing, pari-mutuel wagering and breeding law by inserting a new section – article 15 – that proposes igaming regulation for the state.
The new rules would legislate for the offering of online slots and tables games, as well as live dealer games.
Four different entities would qualify to receive an online gaming license under the bill – destination resort casinos, racetracks, Indian tribes that have entered into gaming compacts, as well as operators with existing online sports betting licenses.
Three additional interactive licenses would also be granted, which would be conditioned on the licensee being partly or wholly owned by members of a minority group. Each licensee would be limited into entering into agreement to offer interactive gaming to only one platform provider.
The bill details a license fee of $2m, which would rise to $10m if the qualified entity would aim to use existing branding of a platform provider.
The license would last for a 10-year term.
The bill also stipulates that the New York State Gaming Commission (NYSGC) would be prohibited from licensing organisations, or their associated entities, that conduct illegal gambling in markets where it is illegal.
The law would also impose a tax of 30.5% on gross gaming revenue (GGR), which would be deposited into the state lottery fund for educational aid. The state would also distribute $11m from this fund every year to be used for responsible gaming education and treatment purposes.
If passed, the bill would see New York become the seventh US to legalize online gambling.
Last month, New York Assemblyman J Gary Pretlow introduced House Bill 1380, which would authorize the offering of online poker by reclassifying the activity as a game of skill.
In January, New York reported GGR of $149.4m.