The beginning of the week saw New York gambling regulatory bodies name officials to a board set to oversee siting for New York City metropolitan area casinos, as the state is trying to expand commercial gambling.
Vicki Been, a former New York Housing Committee member, Quenia Abreau, President and CEO of the New York Women’s Chamber of Commerce, and Stuart Rabinowitz, Hofstra University’s ex-President, were appointed by the local Gaming Commission as the ones to regulate the state’s casino sector. The aforementioned officials are expected to issue requests regarding up to three casino operating permits in the region. The licenses are not expected to be issued by New York gambling regulators until next year.
The first three members of the Gaming Facility Location Board, a 5-member panel that will take into consideration any proposals for the lucrative casino operating permits and will eventually select the three that will move on for final approval. For the time being, it is still not clear when the last two members of the body are set to be appointed by the Commission.
The three appointments mark the latest move in the process of awarding the long-awaited casino licenses in New York City, each of which will expect the permits’ winners to pay a licensing fee of no less than $500 million. Under the provisions of the gambling law, the Gaming Facility Location Board now has 90 days to formally start considering casino developers’ proposals.
Some of the US Casino Giants Remain Hopeful to Get Casino License Approval
US casino giants, including Wynn Resorts, Hard Rock, and Las Vegas Sands, have been hoping to get the necessary approval that would provide them with the opportunity to open a casino in New York City. In addition, two racetrack casinos – Yonkers-based Empire City Casino, and Queens-based Resorts World New York City, are also expected to take part in the competition for getting a full casino license.
The Gaming Commission’s chair, Brian O’Dwyer, revealed that the Gaming Facility Location Board will be given the independence to do its work without other parties’ interference. He shared that it would be the Board’s job to make independent decisions about the appropriateness of the casino operating permits.
The local Gaming Commission had until this week to announce its appointments of at least a majority of what will be the 5-person board that will be engaged with the consideration of the three private casino licenses, which are set to be awarded in New York City and its surrounding area.
Almost a decade ago, the voters of the state gave the nod to a constitutional amendment that would allow up to seven private casinos statewide. As previously reported, the final three licenses were originally supposed to be granted by the competent authorities at the beginning of 2023. However, state lawmakers and Governor Kathy Hochul decided to fast-track the process earlier in 2022 – a move that allowed the Gambling Commission to set up the Facility Board this year.
