Senator Addabbo files fresh online casino bill in New York
Senator Joseph Addabbo lays out attempts to bring legalized igaming to Empire State with $2m license fee and 30.5% GGR tax rate
New York State Senator Joseph Addabbo has formally delivered a fresh online casino bill in an effort to rectify last year’s failed attempt to legislate the vertical in the Empire State.
The senator introduced SB 8185 yesterday, January 11, as he once again makes a push to bring igaming to one of the US’ most populus states.
Among the proposed terms of the bill, a 30.5% tax rate on GGR and a $2m license fee are being mooted.
A license would last for 10 years under the bill, with each licensee being afforded one skin with which to operate in the market.
The license application process would be open to existing online sports betting operators, as well as brick-and-mortar casinos, tribes, and race tracks.
In an addition to Addabbo’s proposals in last year’s unsuccessful bill, this version includes measures to introduce ilottery in the state.
Other new updates to the bill include an obligatory 0.02% of tax revenue generated each fiscal year to go toward employee training, amounting to at least $25m a year.
Additional responsible gambling measures include requirements to notify patrons once they have deposited a combined $2,500.
The bill will now be scrutinized by the New York Senate’s Racing, Gaming, and Wagering Committee, with the state’s legislative session lasting until June.
In comments published on the independent gambling review site Online Casino Reports, Addabbo said: “What we’re seeing is that mobile sports betting in New York is being perceived as the number one product in the country […] We should build upon that.
“The timing for igaming is perfect in the sense that we’re showing that New Yorkers have the propensity and the desire to game with a device, as well as going through a brick-and-mortar site, but poker is very popular, so why miss out on that segment? I think that it’s something you have to consider.”