Jay-Z, Sixers Owner Part of Group That Applied for New York Sports Betting License

New York
Music superstar Jay Z and Philadelphia 76ers owner Michael Rubin are members of a group that is applying for a sports betting license in New York under a to-be-former sportsbook called Fanatics Sportsbook.

According to the New York State Gaming Commission, the Fanatics Sportsbook is one of six applications received by the NYGC. The Commission is eyeing to announce the winning bids by December 6th with the intention of launching the New York sports betting market before Super Bowl LVI in 2022.

In its application, Fanatics Sportsbook wrote:

“Fanatics Sportsbook will use one of the largest sports fan databases in North America and proven sports betting platform and player account management technology to operate sports wagering in New York.”

Kambi-Led Consortium

Jay-Z and Rubin are part of a consortium that is being led by Kambi, a spots betting provider based in Sweden but who already has footprints in North America. Also part of the group is Penn National Gaming, which owns Barstool Sports.

In its application to the NYGC, Fanatics- a leading retailer of sports apparel, said that it has formed a strategic partnership with Roc Nation, a global international entertainment organization founded by Jay-Z to gain market advantage in addition to its establish fan database.

Jay-Z was among a group of investors that took part in a $325M investment in Fanatics last week. Owned by Rubin, Fanatics is now valued at $18B.

Other Competing Bids

Aside from Jay-Z’s group, top online sportsbooks FanDuel, DraftKings, BetMGM, and Bally’s are part of a competing bid that includes the New York Yankees, Buffalo Bills, Buffalo Sabres, New York City FC, and the YES Network. Another group led by Caesars Entertainment, Wynn Resorts, Rush Street, and PointsBet have also submitted their own bid.

New York is expected to be one of the largest sports betting market in the United States when full operational. An analysis by Frontier Economics revealed that the industry could be worth $585 million of sports betting revenue during the first year and $5 billion in five years.

Approved sports betting operators will pay a $25M licensing fee and will be taxed at 50% of their sports betting revenue.

The Rivers Casino in NY is Holding a Job Fair Soon!

Rivers Casino In NY

New York is home to a fast-growing gambling industry. The casino companies here are now working hard to bring in more guests. It seems they want more employees, as well. New reports claim that the Rivers Casino in NY is set to hold a major job fair on Thursday!

There are many in the Schenectady area looking for a job at this popular casino right now. Now might be the perfect time to jump at the opportunity.

Let’s take a look at what exactly is happening with New York’s casino industry.

Major Casino Hubs Begin Ordering Restrictions Again

The US casino industry has been steadily improving since the mass shutdowns ordered in 2020. Last year showed how vulnerable this gambling industry really is. Over the past seven months, the country’s major casino hubs have been seeing a steady increase in their tourism and gambling revenue.

There is now a real fear that this industry could be heading back toward the way it was in 2020. The Delta variant seems to be spreading around the country and infections are increasing. As a result, many of the country’s top casino destinations are ordering a fresh set of restrictions.

Over in Las Vegas, masks are now once again required on the casino floor. This rule has been scrapped for months. It’s mandated for guests and employees to wear masks again and many gaming analysts fear this could lead to a drop in tourism.

The current restrictions are not nearly as intense as what was seen over the summer last year. Hope is that things stay this way. Ordering lower capacity limits and installing plexiglass barriers inside of Las Vegas casinos will almost certainly affect tourism numbers.

Smaller casino hubs around the country are ordering new restrictions too. These specific regulations vary from state to state. Lawmakers in New York have been discussing whether or not to implement new rules, yet things have largely remained the same over the years.

The casinos in New York are now working hard to boost their revenue figures. Here’s an exciting update on one of the most popular gambling venues in the state!

A Job Fair is Being Held at the Rivers Casino in NY This Week

There are now a large number of popular casinos operating in the state of New York. For many years, only tribal casinos were given permission to operate in this state. Things changed in 2013 when lawmakers approved a measure to allow commercial casinos to operate, as well.

The Rivers Casino & Resort in Schenectady is without a doubt one of the most popular gambling venues in the state. It first opened its doors back in 2017. It’s a commercial casino and allows all major table games on the casino floor.

This week, news broke that a major job fair is being held at the Rivers Casino in NY. This event will take place on Thursday between 10 am to 2 pm. There are said to be 50 openings in its food and beverage department available. Linda Waters, Director of Human Resources at Rivers Casino, spoke about this job fair to the media this week.

“Working at Rivers Casino is more than just a job, it’s a whole lot of fun and very rewarding,” she said. “It’s a great place to work and we always celebrate diversity, encourage personal and professional growth, and stay focused on enriching the lives of our team and their families.”

Anyone interested in getting into the casino industry in New York may want to attend this job fair. The Rivers Casino & Resort is already one of the most popular gambling properties in the state. It will likely continue to grow more popular over the next few years.

Many are still asking for an update on the casino plans for New York City. Here’s a quick look at what is happening with this situation.

NYC’s Casino Plans Seem to be Put on Hold, For Now

New York is clearly focused on expanding its gambling industry. Here, both casino gambling and sports betting are now legal. In many ways, however, these two forms of gambling are limited in this state, though.

Only land-based sports betting is currently allowed in New York. Lawmakers are calling for a change and point toward neighboring New Jersey’s massive revenue earnings from online sports gambling. Governor Cuomo agrees and it appears that online sports gambling will become available here in the near future.

The casino industry here is relatively limited, too. All of the state’s true Class III casinos are currently based in Upstate New York. A growing number of individuals now feel it’s time to open a major casino-resort in New York City.

Plans for this proposed gambling venue have been slowly coming out over the past year. Unfortunately, it seems that these plans are being put on hold. The city has a huge number of major issues to deal with right now and opening a new casino doesn’t seem to be high on the list of priorities.

Things move fast and it wouldn’t be a shock to see a casino open in NYC open its doors sometime over the next few years. It seems likely that this property would grow to become a major hit. We’ll be sure to offer updates on this property over the next few months!

Are you interested in working at Rivers Casino in NY? When do you expect a casino to open in New York City? Let us know in the comments section below!

Resorts World Hudson Valley to Break Ground This Summer

Resorts World Las Vegas

The Newburgh Planning Board approved the plan to build the Resorts World Hudson Valley casino at Newburgh Mall one week after the town’s board enacted a zonal change which stood as the final approval for the project.

With the approval, the Hudson Valley casino is set to break ground this summer and could start operations by 2022.

In a written statement, Genting Americas Vice-President of Government Affairs and Public Relations Meghan Taylor said:

“We are extremely grateful for the ongoing support from the Town Council and the community as we move a step closer to building Resorts World Hudson Valley.”

“We look forward to breaking ground soon and delivering on our commitment to create good-paying union jobs for local residents, help revitalize the Newburgh Mall.”

Creating Jobs for Local Residents

Genting estimates that the Hudson Valley casino project will employ 200 people during the construction phase, which could take between six to 12 months depending on the shortage of building materials due to the COVID-19 pandemic.

Once completed, Resorts World says that the casino will employ 200 to 225 people full-time with 70% of those jobs filled by union employees. According to Taylor, they will be paying an estimated $15M in annual wages plus another $3M to the town of Newburgh via a Host Community Benefit agreement.

Revitalizing Newburgh Mall

The Hudson Valley casino is a $32M project that will renovate the former Bon-Ton department store at the Newburgh Mall to a 90,000 square feet electronic casino gaming area which is 44 miles from its sister property, the Resorts World Catskills in Sullivan City.

Resorts World Hudson Valley will bring a total of 1,300 video gaming machines plus a Bar360 lounge to the Mall, which is home to the latest Sears store in Hudson Valley but has struggled financially in recent years. The Hudson Valley casino is expected to bring in $160M in gross gaming revenue to the town.

Officials Push Against Opening a Commercial Casino in NYC

NYC Casino

For years, lawmakers in New York have debated whether or not opening a traditional Class III casino in New York would be beneficial for the state. It seemed that some real progress was being made to get this one. Unfortunately, new reports have surfaced claiming a group of politicians has pushed against allowing a commercial casino in NYC.

It’s disappointing news for those hoping to see a real gambling venue finally open its doors in the city. Hope is not completely lost, though. Now is a great time to look at what exactly is happening with this situation.

Let’s get into it!

What’s Going on With New York’s Casino Industry?

New York’s history of gambling regulation goes back decades. For many years, this state was considered one of the most anti-gambling in the country. Lawmakers here prohibited most forms of gambling such as traditional casino gaming and sports betting.

Many pushed back against these intense regulations. Even some of the top lawmakers in the state expressed their opinion that more legal gambling options would bring the state much-needed revenue. Finally, in 2013, things took a major turn here.

It was this year that lawmakers in New York approved a measure to allow commercial casinos. The state mandated that all of these gambling venues open their doors in Upstate New York. This led to a hugely competitive casino industry in this area.

Not long ago, reports surfaced that several of the casinos in New York now owe the state’s Gaming Commission a combined $17.7 million. Rivers Casino & Resort, Lago Resort & Casino, Resorts World, and Tioga Downs Casino all owe millions in overdue fees to this commission. It’s unclear if any of these gaming properties have already decided to pay this bill.

Fortunately, gambling revenue has been slowly increasing in this state. A growing number of individuals are making the trip to Upstate New York to play at their favorite casinos. Just about every major casino destination around the US has been seeing a steady increase of visitors throughout the first five months of 2021.

As revenue increases, more individuals are pushing the idea of opening a real casino in New York City. New reports indicate this may not be taking place anytime soon.

Politicians Push Against Allowing a Commercial Casino in NYC

The discussion surrounding a real casino in New York City has been going on for years. Proponents believe it will help to boost tourism and revenue for the city. Detractors feel it could lead to an increase in crime and gambling addiction.

Some felt that 2020 would be the year for a measure allowing a commercial casino in NYC to get passed. Several prominent figures in politics including New York City mayor-hopeful Andrew Yang supported this idea. Unfortunately, reports have just surfaced that indicate this may not happen anytime soon.

The New York Post has just released a new report claiming a group of Manhattan legislators are pushing against these plans. Assemblyman Richard Gottfried gave his official take on this situation to the media this week. Ultimately, he believes this will be a detriment to the Manhattan area.

“I adamantly oppose any casino in Manhattan,” Gottfried said. “I believe it would be seriously detrimental to the residential and commercial quality of Manhattan.” 

Governor Cuomo pushed against allowing any new forms of gambling in New York for years. Recently, however, he changed his tune and even supported the move to open a commercial casino in NYC. He expressed disappointment at the news that these legislators do not support the city’s casino plans.

This news does not mean that the city’s casino plans are completely dead. Lawmakers will now meet to weigh the pros and cons of this industry. We’ll be sure to offer more updates on the move to get a NYC casino opened over the next few weeks.

New Jersey’s Casinos Prepare for Major Revenue Surge

The state of New Jersey is known for being the gambling capital of the East Coast. Some of the best casino-resorts in the country are located in Atlantic City. Throughout 2021, these properties have been seeing a steady increase in their revenue figures.

Most analysts expect this summer to be hugely successful for New Jersey’s casino industry. Hotel bookings in Atlantic City are ramping up. As a result, many of these casino-resorts are undergoing massive renovations.

The Ocean Casino-Resort has announced it is planning a $15 million renovation project. The Hard Rock Atlantic City is also preparing for a $20 million renovation. Many gambling fans in the area are excited to see how these properties improve.

Some exciting new entertainment options are coming to this city soon, too. As infection rates drop, regulations towards casinos are being lifted. Many of the casino-resorts here are now resuming sold-out concerts and shows.

It’s an exciting time for the entire East Coast casino industry. Places like Pennsylvania and Delaware have seen steady increases in their gaming revenue lately. We’ll be sure to report on the revenue figures in these states over the next few months.

Do you think we’ll see a commercial casino in NYC anytime soon? Let us know in the comments section below.

More Plans to Open a NYC Casino are Coming Out

New York City View

New York is home to a large casino industry. Unfortunately, revenue from this industry has been low for more than a year and many are looking at new ways to bring in money. We’re now beginning to hear more about the plans to open a NYC casino.

Many officials are pushing to allow a Class III gambling venue in New York City. It seems that some progress is being made on this front. Today, we’re going to discuss exactly what needs to be done for a casino to be approved to open its doors in the Big Apple.

Let’s get into it!

Gaming Revenue is Beginning to Surge Around the US

It’s been more than a year since the US casino industry completely shut down. This proved to be one of the biggest moments in the casino industry to date. It took months for any major casinos to begin operating again.

The country’s larger gaming hubs were impacted more than the smaller ones. Places like Las Vegas and Atlantic City immediately began to suffer. These cities are unique in that they rely massively on their tourism industries.

Las Vegas began allowing its casinos to operate again in June. Of course, these venues were only able to operate at a limited capacity with intense regulations set in place. Tourism in the city remained low even after the casinos opened their doors again.

Atlantic City wasn’t given permission to reopen casinos until July. It was a tough few months for the East Coast’s biggest gaming destination. Like Las Vegas, tourism here remained very low for months.

Things are beginning to improve, though. Tourism rates are steadily increasing in Las Vegas. Casino companies across the country are beginning to see an increase in revenue. It seems likely that there will be a major recovery reported throughout the summer.

New York has been trying to improve its casino industry for years. It’s now looking like a major gambling venue could finally be making its way into NYC.

Here’s What We Know About the Plans to Open a NYC Casino

The idea of opening a major Class III casino in New York City has been floating around for years. There has been pushback by several prominent individuals in the state who feel this could end up resulting in more crime and gaming addiction. Lately, however, more have gotten on board with the idea of getting a casino in New York City up and running.

Several prominent politicians are interested in this idea, as well. New York City mayor-hopeful Andrew Yang has been supporting the plans to open a NYC casino. He believes this gaming venue could help to bring New York a huge amount of valuable revenue.

This week, news broke that a bid to open an official casino in New York City came up during the state budget talks. It’s the first time this has happened and shows how much progress is being made. Governor Cuomo is now said to be working on a “community advisory board” to find an adequate site to host this new casino.

One anonymous lawmaker spoke with the New York Post this week about the current casino plans here.

“Cuomo is like a mad scientist in his lab drafting language for a new casino. Legislators in the Senate and Assembly are rejecting budget language giving the governor the authority to locate a casino in Manhattan,” the lawmaker said.

It’s clear that more individuals are now beginning to support the idea of opening a major casino in New York City. Reports have surfaced showing this property could bring the state a massive amount of tax revenue every single year. One anonymous lawmaker seems to indicate that not everyone is supporting this idea, though.

Finding a suitable location for this venue seems to be the main priority right now. We’ll be sure to offer updates on this situation over the next few weeks!

Atlantic City’s Casino Industry is Poised for a Big Comeback

Casinos around the United States are beginning to see big increases in their monthly revenue earnings. It’s great news for the companies that own these properties. Most major US casino operators have seen unprecedented revenue drops over the past twelve months.

Atlantic City may end up seeing a massive comeback this summer. This small city is home to many of the best casino-resorts on the East Coast. Most of the restrictions here have been lifted and these casinos are beginning to report major increases in their visitation rates.

Some big companies are now investing into this city’s gaming industry. Not long ago, news broke that the Ilitch family had agreed to purchase half of the Ocean Casino in Atlantic City. They expect major jumps in revenue over the next few months.

The sportsbooks here are likely to see a major revenue boost, as well. Online sports gambling revenue has been flowing into New Jersey for the past year. As more visitors flock into Atlantic City, land-based sports betting revenue will increase.

It’s a great time for the casino industry. If all goes according to plan, there will be a surge of tourism into the major gambling hubs around the country. Stay tuned for updates on this exciting situation.

What do you think about the plans to open a NYC casino? Do you think a casino will open here in the next few years? Let us know in the comments section below.

We Could See a Casino in Queens Opening Sometime Soon

Resorts World NY

The push to get a real Class III casino in New York City continues. It’s been a long, complicated process to get a major gaming venue in the Big Apple. Now, many are looking at possible locations for this property. Some believe we’ll see a casino in Queens opening its doors sometime soon.

This seems like a logical location for this new venue. Today, we’ll discuss why Queens may be the best area for a casino. We’ll also talk about what needs to happen for a New York City casino to open its doors.

Here’s what you need to know!

Lawmakers Continue Working to Expand New York’s Gambling Industry

New York’s gambling industry is still fairly new. For decades, officials here prevented any real commercial gambling properties from operating in the state. Finally, in 2013, the state government approved a new measure to allow commercial casinos here.

This proved to be a game-changer for New York’s gambling industry. It didn’t take long for major casino companies to begin opening casinos in the Upstate area. Unfortunately, state leaders did not permit any casinos to open in New York City.

Many now believe that it’s time for New York to expand its gambling options. A few years ago, the state legalized sports betting. Interestingly, only land-based sports betting was allowed here. The state pushed against the legalization of internet sports gambling.

More are now pushing for Governor Cuomo to begin allowing internet sports betting. New York’s sports betting revenue has been significantly lower than neighboring states. Until online sportsbooks become regulated here, this will not change.

There is also a huge push to allow more casinos to open around the state. The past year has been extremely tough for the casinos in Upstate New York. Many believe the state would benefit greatly from allowing casinos in New York City.

It seems that some progress is being made to get a casino opened in New York. Here’s a look at where this property could open its doors.

Here’s Why More are Pushing to See a Casino in Queens

As we just mentioned, New York’s gambling industry has expanded in a big way over the past few years. It is still significantly smaller than some of the other ones nearby such as New Jersey’s and Pennsylvania’s. Allowing a casino in New York City could be a great way for the state to compete in the market.

There have been some major issues getting this venue approved. Some in New York City believe that opening a casino here will result in an increase in crime. As time goes on, however, more are embracing the idea of a Class III casino in the city.

It now seems there could be a casino in Queens opening its doors sometime in the future. Queens is currently home to Resorts World Casino New York City. This isn’t a real casino and is only able to offer a limited set of electronic games.

Resorts World is one of the main candidates to become the first real casino in NYC. Meghan Taylor, the vice president of Government Affairs and Public Relations for Resorts World Casino, believes this will help to bring some much-needed revenue for the state moving forward.

“We are in an extremely different time in 2021, post-pandemic, where the state is dying for an economic boost,” Taylor said. “What that means is thousands of jobs being created almost immediately, and those thousands of jobs are for communities or really would be in communities that are in need of quality, high-paying jobs.”

This is exactly what many other state leaders are beginning to realize. New York is in serious need of tax money right now. A legalized casino in New York City could be the perfect way to achieve this goal.

The push to allow online sports betting continues, too. Here’s a look at what is happening on that front.

Now is the Perfect Time to Allow Online Sports Betting in NY

New York once had some of the strictest gambling laws in the country. For one reason or another, state leaders pushed against the legalization of almost all forms of gambling. Only recently have things begun to change here.

Land-based sports betting is now available in the state. No regulated online sportsbooks are currently allowed here. There has been intense pressure on Governor Cuomo to finally change this ban on internet sports betting, though.

Several companies seem ready to break into the state’s new online market. That includes Penn National Gaming, which recently secured a deal with the Twin Rivers Casino in New York. This will allow Penn Gaming to launch online sportsbooks in the state as soon as it becomes legal.

It seems likely that New York could grow to have one of the largest sports betting markets in the country with the legalization of online sportsbooks. New Jersey is setting new revenue records almost every month from this industry. It’s bringing the state a huge amount of tax money.

The gambling industry in New York seems likely to change in a big way soon. Most expect to see online sports gambling legal here within a year or two. We may even see a real casino in Queens open its doors soon!

Do you think it’s time for New York City to open a Class III casino? When do you expect online sports betting to become legal here? Let us know in the comments section below.

More Officials Push to Allow Real Casinos in New York City

New York City Casinos

New York is home to a fairly large number of popular casinos. For several reasons, however, there are no real casinos in New York City currently operating. Many state officials are now taking issue with this fact and feel that things should change.

Analysts believe New York would benefit from expanding its gambling industry. The state has struggled to compete with many of its neighboring states in the casino and sports betting departments. Now is a great time to talk about how things could change here in the near future.

Let’s get into it!

New York Seems Close to Finally Allowing Online Sports Betting

The state of New York is well-known for having one of the most passionate sports fan bases in the country. Unfortunately, state leaders here haven’t capitalized on this fact. Lawmakers here have been hesitant to expand the sports betting industry here in any major way.

The first legal sports wager was made here in 2019. As of now, only land-based sports betting is available. That has made it difficult for sports betting operators to generate revenue with the events that have unfolded since March of 2020.

There has been a real push to allow online sports betting here lately. Analysts point to states such as New Jersey and Pennsylvania with regulated online sportsbooks up and running. These states are earning a massive amount of tax revenue from these internet gambling operations.

Officials in New York can no longer deny this fact. Even Governor Cuomo, who has been largely anti-online gambling over the years, seems to be embracing a change. He is actively in talks with other officials on how to safely launch the state’s online sports betting platforms.

This could end up being a game-changer for New York. It will almost certainly result in a major revenue spike. As of now, there is still no official date set for the state’s online sportsbooks to go live.

Many also feel that New York should begin to expand its casino industry. Here’s what we know about this situation.

Business Officials Push to Allow Real Casinos in New York City

The casino industry in New York has been steadily increasing since 2013. That year, state leaders began allowing commercial casinos to start operating. None were given permission to operate in New York City, though.

State leaders have long pushed against allowing Class III casinos in NYC. They believed these venues could cause a variety of unintended issues in the city. That idea seems outdated, however, when considering many of the successful casinos in other major US cities.

New York is beginning to realize that fact. Several prominent business leaders in different parts of the city are now supporting the push to allow real casinos in New York City. That includes leaders in The Bronx and Westchester County.

Most of the focus seems to be on allowing table games inside the Empire City Casino. This venue is one of the only ones in the city currently able to offer slot machines and other electronic games. There are now many that want to see this venue become a real, traditional casino.

Council member Shanae Williams believes this will end up bringing more money into Yonkers, where the Empire City Casino is located. “It would mean more money to help with a lot of different community projects, and I think that’s what we need right now in Yonkers,” she said. 

Governor Cuomo has shown a willingness to look into this idea. Of course, he is facing a variety of other issues at the moment that are likely taking his attention. We’ll be sure to offer more updates on any possible casinos in New York City over the next few months!

Atlantic City is Still in Recovery Mode

New York seems close to allowing many new gambling options. Over in New Jersey, the casino companies have a different focus. Rather than looking at expansion, these casinos want to simply get back to the way things were in 2019.

Atlantic City has been hit hard over the past twelve months. There are some clear signs that things are beginning to improve here. Revenue figures are still far below what was seen just a couple of years ago, though.

As infection rates drop, Governor Phil Murphy has slowly begun lifting restrictions on Atlantic City. This is giving the casinos here a little breathing room to attract players. Even major sports leagues are now making the move into AC.

News broke today that the Professional Fighters League plans to hold its upcoming tournament bouts inside the Ocean Casino-Resort in Atlantic City. These bouts will take place inside a “bubble” without any fans in attendance. It goes to show how far things have come here since last year.

Many believe February’s gaming revenue figures will break records. The Super Bowl likely brought an unprecedented amount of wagers. Hopefully, that money helps to keep the gambling properties here afloat during these difficult times.

Do you think we’ll see real casinos in New York City soon? Let us know in the comments section below.

Andrew Yang Supports New York City Casino Plans

Andrew Yang

For years, several officials in New York have been pushing to open a new casino-resort in New York City. This idea is now beginning to gain attention from powerful individuals in the state. That includes Andrew Yang. New reports claim that Yang now supports the New York City casino plans.

It’s exciting news for gambling proponents in this state. Some, however, feel this isn’t the right time to discuss opening a casino in the city. Today, we’ll talk about what exactly might be coming to New York City in the future.

Let’s get into it!

New York’s Casinos Are Continuing to Struggle

For many years, New York was known as one of the most anti-gambling states in the country. Lawmakers here began cracking down on this industry decades ago due to its connection with crime groups. Some felt that we’d never see a booming casino industry here.

Eventually, the state began allowing Native American-run casinos to begin operating in the state. These grew extremely popular with residents and revenue started to increase. In 2013, officials in New York decided to pass a bill to allow commercial casinos in the state.

This was a huge moment for the country’s gambling industry. It became clear that New York saw the upside in gambling. Several commercial casinos have since opened in the state, mostly in the Upstate area.

2020 proved to be a devastating year for New York’s casino industry. In March, all of the casinos here were forced to shut down. They reopened over the summer, yet all of the casinos in the state have seen extremely low revenue figures since that time. Some are at risk of a permanent shutdown.

New York isn’t alone in this situation. All major casino destinations around the US are seeing extremely low revenue figures right now. It’s a complicated issue that even the top gaming experts are having a difficult time solving.

Could opening a casino-resort in New York City help things? Some certainly think so. That includes one man currently pushing to become mayor of NYC.

More Show Support for New York City Casino Plans

It’s clear that New York has changed its stance on gambling over the past few years. Interestingly, nearly all of the casinos in this state are located in the Upstate area. Many state leaders have been hesitant to allow any casinos in New York City.

Some now feel this is the time to make a change. We’ve seen several states open major casino-resorts lately. Prior to 2020, these venues were proving to be hugely successful. Even Chicago has recently approved a measure to open a new casino-resort.

This week, NYC Mayor-hopeful Andrew Yang gave his opinion on this situation. He addresses the fact that casinos can bring a variety of issues. Ultimately, however, he supports the New York City casino plans due to the massive revenue potential.

“We need big ideas,” Yang tweeted this week. “There are many downsides of casinos but the upside is $700m+ recurring annually largely from tourists now going to CT and NJ. That’s money for teachers, hospitals and other services. We should be trying to grow revenue where possible.”

Yang certainly has a point. Many gambling fans based in New York City are heading to neighboring states to play their favorite casino games. Opening a gambling venue in the city would help to keep this money inside the state.

It will be interesting to see if these plans move forward over the next few years. Many feel that Andrew Yang will end up becoming the next Mayor of NYC. Perhaps he will push these casino plans forward. Stay tuned for updates!

Will New York Approve Mobile Sports Betting This Year?

The casino industry in New York is growing at a steady pace. Prior to 2020, this industry was helping to bring the state valuable revenue in the form of taxes. Hope is that casinos here begin seeing pre-pandemic levels of revenue over the next few months.

As many know, New York also legalized sports betting years ago. Unfortunately, only land-based sports wagers are available here. It’s unusual, as online sports betting has proven to be a far more lucrative industry.

Many are now calling for mobile gambling to finally be approved in 2021. There are several bills to start regulating this form of gambling moving through the legislative process. Many believe lawmakers will give online sports betting the green light this year.

That will be bad news for New Jersey. This state has seen massive revenue figures from its online sports gambling industry over the past twelve months. Many sports fans in New York make the move into New Jersey’s borders in order to place online sports wagers.

If New York’s online sports betting industry goes live, this money will stay inside the state. It’s a similar thought process to the New York City casino plans. Officials in the state are tired of seeing money go into other parts of the country.

Do you think a casino should open in New York City? Would this be successful? Let us know in the comments section below.

New York’s Online Sports Betting Bill on the Move After Committee Aproval

Percent Sign With a Sports Balls and Money Background
The New York online sports betting bills that Lawmakers favor over Governor Andrew Cuomo’s state-run model has begun its legalizations process.

The bills, S1183 and A1257, sponsored by Sen. Joe Addabbo Jr. and Assemblyman Gary Pretlow, have gotten the needed support from both chambers and are on the move.

Support from Both Chambers

The New York Senate voted S1183 out committee on Tuesday while The Assembly followed by voting A1257 out of committee the following day. Getting both chambers to vote them out of committee is the first step in the legalization process for any law in New York and it represents a big win for New York mobile sports betting.

After this, the New York legislative will start the discussion process and hopefully, it will lead to a vote on the floor. According to sources, both the Governor and the members of the senate and assembly are confident that not only will the bill be passed but also expedited.

With the way the bill was voted out of committee in the Senate and the Assembly, it appears like lawmakers are hastening the legalization of New York online sports betting. At this rate, it is very possible that New Yorkers can bet on their mobile devices before the start of the 2021 NFL season in September.

Details of NY Online Sports Betting Bill

The current bill permits New York’s four commercial casinos and three tribal casinos to partner with two sportsbooks each. This means that there will be up to 14 sports betting operators in New York even before the proposed downstate casinos are included. This also means that top sportsbooks like FanDuel and DraftKings, which already have physical sportsbooks in the state will have the opportunity to launch their mobile apps in the Empire State.

Each online sportsbook operator will be required to pay a one-time fee of $12M. That would mean a total of $168M for the state is all 14 slots are taken. Meanwhile, sports betting will be taxed at 8.5% from retail bets and 12% for online bets. Professional sports stadiums and off-track betting facilities will be allowed to partner with a casino to host betting kiosks.

The proposed bill also allows online registration which means that the ongoing pandemic won’t affect the number of bettors and the total amount of bets placed. Operators are also obliged to pay 0.2% of their handle wagered on a specific sport to that sport’s governing body as an “integrity fee”.

NY Governor Cuomo Says He Will Push For Online Sports Betting

Seal of New York
New York Governor Andrew Cuomo is now willing to bet on online sports wagering. After long opposing to the legalization of online sports betting in New York, the governor now says that he will push for it during his upcoming annual address to the state.

Said Cuomo in a statement:

“New York has the potential to be the largest sports wagering market in the United States, and by legalizing online sports betting we aim to keep millions of dollars in tax revenue here at home, which will only strengthen our ability to rebuild from the COVID-19 crisis.”

A Focal Point of State of the State Address

On Wednesday, Governor Cuomo said that legal online sports betting will be a focal point of his policy proposals when he addresses his constituents and fellow lawmakers during his State of the State address next week.

Added Cuomo:

“At a time when New York faces a historic budget deficit due to the Covid-19 pandemic, the current online sports wagering structure incentivizes a large segment of New York residents to travel out of state to make online sports wagers or continue to patronize black markets.”

Under the governor’s proposal, mobile sports operator will have to obtain a state-issued license and be tied to a legal gaming facility. He will reportedly ask the New York Gaming Commission to look for proposals or offering legal online sports betting and to ensure that gaming operators include protection against addiction and abuses.

Change of Heart

For much of 202, Cuomo remained opposed to online sports betting and argued that its legalization would need a constitutional amendment. However, with the state facing a looming budget deficit and revenue shortages due to the COVID-19 pandemic, the governor started to warm to the idea of legal online sports betting last month.

During a remote briefing last month, the governor said:

“Are there other ways to get revenue? How about marijuana? How about sports betting?”

Residents in neighboring New Jersey have been able to place wagers using mobile devices and computers since 2018. Today, the Garden State is poised to overtake Nevada as the United States’ largest sports betting market. In November 2020, a total of $872 online bets were placed in New Jersey, generating $30M in taxes. That amount brought the overall 2020 haul of the state from legal online sports betting to $268.8M, with the final numbers expected to be revealed next week.