{"id":9297,"date":"2025-06-17T05:59:21","date_gmt":"2025-06-17T05:59:21","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2025\/06\/17\/new-york-state-approves-fee-and-investment-rules-for-casino-licences\/"},"modified":"2025-06-17T05:59:21","modified_gmt":"2025-06-17T05:59:21","slug":"new-york-state-approves-fee-and-investment-rules-for-casino-licences","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2025\/06\/17\/new-york-state-approves-fee-and-investment-rules-for-casino-licences\/","title":{"rendered":"New York State Approves Fee and Investment Rules for Casino Licences"},"content":{"rendered":"<div>\n<p>New York\u2019s effort to award three downstate casino licences is now moving forward with key terms confirmed. The Gaming Facility Location Board settled on financial requirements for applicants, bringing the bidding process closer to its next stage.<\/p>\n<hr>\n<p><em><strong>Good to know<\/strong><\/em><\/p>\n<ul>\n<li><em><strong>Casino applicants must commit at least $500 million in both licensing fees and capital investment.<\/strong><\/em><\/li>\n<li><em><strong>All entitlement approvals, including zoning, must be completed by 30 September.<\/strong><\/em><\/li>\n<li><em><strong>Final licence selections are expected by December.<\/strong><\/em><\/li>\n<\/ul>\n<hr>\n<p>With the deadline for bid submissions set for 27 June, casino hopefuls must finalize key approvals quickly. Some projects, such as <a href=\"https:\/\/igaming.org\/casino-news\/ballys-moves-closer-to-casino-license-with-bronx-approval\/\">Bally\u2019s plan for the Bronx<\/a>, have already secured rezoning approval from the New York City Council and state Legislature. Other proposals, including Thor Equities\u2019 project on Coney Island, still await critical votes. Manhattan-based casino plans are undergoing environmental reviews.<\/p>\n<p>Zoning issues are under particular pressure this month, with many communities facing short windows to act. If zoning or environmental processes are incomplete by 30 September, bids will be disqualified.<\/p>\n<p>After applications are submitted, each will be paired with a Community Advisory Committee (CAC). These committees are tasked with assessing public feedback and issuing a binding vote. To advance, a proposal must receive at least two-thirds approval from its CAC.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\"><br \/>\n\t\t<amp-img alt=\"Mirax Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Mirax-Casino.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Mirax Casino\" target=\"_blank\" rel=\"nofollow\">Mirax Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>CAC membership depends on the project\u2019s location. Proposals inside New York City will be reviewed by committees including Governor Kathy Hochul, Mayor Eric Adams, the relevant borough president, city council member, and state legislators. For projects outside the city\u2014like MGM Empire City\u2019s Yonkers plan\u2014committees will include the governor, county executive, and other local leaders based on the area\u2019s governing structure.<\/p>\n<h2>Applicants must also propose tax rates<\/h2>\n<p>Besides the application fee and approvals, bidders are expected to propose a tax rate on gross gaming revenue. The minimums are 25% for slot revenue and 10% for all other revenue. The Facility Location Board will weigh these proposals during review.<\/p>\n<p>Once a CAC approves a project and materials are submitted, the board will evaluate each bid across four areas: economic development (70%), local impact siting (10%), workforce plans (10%), and diversity strategies (10%). After the board selects its preferred projects, the commission will make the final decision.<\/p>\n<p>While three licences are on the table, the commission is not required to award all of them. It may choose to approve fewer\u2014or none\u2014depending on the outcome of the full review.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/new-york-state-approves-fee-and-investment-rules-for-casino-licences\/\">New York State Approves Fee and Investment Rules for Casino Licences<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>New York\u2019s effort to award three downstate casino licences is now moving forward with key terms confirmed. The Gaming Facility Location Board settled on financial requirements for applicants, bringing the bidding process closer to its next stage. Good to know Casino applicants must commit at least $500 million in both licensing fees and capital investment. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-9297","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/9297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=9297"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/9297\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=9297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=9297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=9297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}