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   Tuesday, April 16 2024 
The State is poised to discuss online poker regulation - New York

With the year drawing to a close, gambling market in New York State is getting well. Last week, three casino projects were approved in the northern part of the State, in Sullivan County, Schenectady and Seneca, to be precise. Casino expansion plan within New York was voted in 2012, but it needs nearly two years (December 2014) for the three successful bidders (of the 16 applicants) to be granted an official go-ahead. According to a statement released by the Gaming Facility Location Board, the three casino projects will generate more than 3,200 full-time jobs and $ 265 million in tax revenues, including $ 136 million for licensing fees. As almost all dusts are settled concerning the completion of this hard-boiled casino development process, N Y legislators can now set a great focus on online poker regulation. Since the process here-in wonÂ’t be finished this year as many developers want it to be, we can expect that New York will have regulated poker market next year.

With its 19.6 million residents, New York State is actually home to a lucrative market for e-poker room operators while neighboring New Jersey, where online poker market is regulated since last year, has only 8.9 million. As mentioned in a report from the New York Times in October, N Y e-poker market is estimated to generate $ 50 to $ 80 million in annual taxes. Note that a related bill was introduced in March, but nothing comes out of it since then. Gaming giants who are keenly interested in this new gambling market include MGM Resorts. MGM are currently lobbying in Albany.

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