would you believe it? The going rate for a downstate casino license was expected to be $500 million. But with gambling giants eager and ready, the state Senate is proposing an increase on how much they will pay! They are looking at making this cool 1 billion dollars instead of just under 600M as originally thought- which would make their yearly payment more reasonable considering all that’s involved in running these places (manpower expenses).
With just over a month left until the start of fiscal year, negotiations are continuing between political leaders in New York’s State Senate and Assembly. The one-house plan does not include any figures for coveted licenses which Governor Kathy Hochul proposed making available this year rather than wait until 2023 when they’re scheduled to expire again! But there could be good news if you’re looking forward too–the language regarding “considering private capital investment made previous” might help Resorts World NY & EC Inc obtain their bids after all since it encourages state regulators tado note how crucial increased investments were during
The number of gaming measures worth noting has increased lately. One such measure is mobile sports betting, which started this year in New York with success—more than $3 billion was bet so far! The Senate plan would increase the eligible vendors to 16 while requiring 30% go into minority owned businesses; compare these numbers with what’s currently available and you’ll see why we’re looking forward too an even better future for both players AND providers alike
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