New York City is getting closer to a brand-new gaming paradise
New York, the city that never sleeps, offers many entertainment outlets to the ones visiting. You can head off to the Rockefeller center and Time Square, visit museums, watch a play at the West End, and even eat some yummy hotdogs. Yet, if you want to gamble in New York City, you must wait a couple of months.
We only recently woke up to the news that New York City has submitted applications to open 3 casinos within its state. Following a vote, it was agreed that the state would open applications for operators willing to open casinos that offer live games and slot machines. With many applications expected to come in, operators will be scored on factors including job creation for NY residents, impact on surrounding areas where the site is planned, and the revenue the establishment is expected to bring in.
Today we talk about the trajectory that New York had to endure to reach the stage of finally accepting applications for land-based casinos. We will also suggest some sites that could host the gambling site and the following steps when planning your next trip to the Big Apple. A Times Square casino may do.
The battle is on for New York Casino’s license
New York has always held a frosty relationship with gambling. In 1908, the Hart-Agnew anti-gambling law was signed, paving the way for decades of the fight for the right to play. Until recently, you could not legally gamble in New York, with hefty fines waiting for those defying the law. Only recently, the ban was overturned, with the state offering casino applications at 500$ million, prompting a bidding war, with the already established casino operators looking to set up home in New York City.
Casino Operators looking to launch a new land-based casino in the city need to have a stash of gold ready to fund the operation. The application process will be tied to a bidding war, where applicants can tender their options and offer a higher fee to secure a successful application. Casino operators will also need to fact earnings, with a tax rate on the total GGR on slot games set at 25%, and other taxes of 10% will be applied to additional casino revenues.
New Yorkers offering to sell land will be eager to list with real estate companies wanting to land the deal of a century and the bragging rights of selling the 1st NY casino site. We expect that such property could be valued in billions, with the state of NY getting a % tax on that sale as well.
In the meantime, if you happen to be in New York and cannot wait to start gambling, you have a few options to consider. You can begin by visiting the best USA Casinos for UK players via NonGamstopUkCasino. Playing at online casino sites will always be a great form of entertainment; online, you can enjoy slots, table games, live casinos, and more. Additionally, you will be showered with promos, perks, freebies and a first deposit match to get things started. While the NY brick-and-mortar casinos will get the green light, let’s enjoy the online gambling world!
Where is the best location for the casino to construct?
With New York on almost everyone’s bucket list, we all want to visit and experience the city’s magic. Finding a prime and central location to house these casinos is imperative. You need these gambling sites central while not getting in the way, accessible, while not distributing the peace. You also need a central place with many possible visitors. So where should these casinos be situated?
Yonkers, NY – The MGM Resort International Empire City Casino in Yonkers is already operational. Still, with an additional license, the establishment could offer table games, slots and even live-to-game. MGM is one of the top brands in Vegas, the Yonkers establishment could benefit from the additional license and expansion of the operation.
Queens, NY – Queens is another area that hosts the Hywatt Regency and a small-scale casino with ample potential. Currently, the Genting World Resort offers slot, table games and even a mobile gambling app. With the additional license, you could enjoy poker, blackjack and more fun to gamble at.
Riker Island, NY – Riker Island is sometimes associated with the scary prison, but with some planning, it could morph into one of the best gambling destinations worldwide. Trim, cost and cut off from the world. It sounds like a win-win situation to us!
What are the next steps?
Now that the gambling ban has been lifted from NYC, the bidding war has started to see which establishment and casinos will be the first to make or break it in the Big Apple. There are many things one needs to put on their New York to-do list, with land-based casinos being added to that list pretty soon.
In the meantime, established casinos will need to compete with brand-new casinos that are coming in all in, all guns blazing. With the news of casino licenses granted in New York coming in earlier than expected, we foresee the process to be swift, with new casinos operational by the end of 2025.
And finally, the last piece of the puzzle is here in New York. We head over to Fashion Week; we watch Mamma Mia at the West End, walk to Times Squarewe finally can enjoy a good old poker game at a NY casino. We just cannot wait!