Inching along
In New York, it appears that up to three new casinos could be on the horizon. The New York Gaming Commission (NYGC) is now accepting proposals of interest for as many as three new casino properties in the New York City area.
seeking information to develop a better understanding of interest”
A statement said: “The Commission is seeking information to develop a better understanding of interest in the unawarded commercial casino licenses and, if there is interest, what factors should be considered by the State in the development of a process to award such licenses.”
In Maryland, the Maryland Lottery and Gaming Control Commission (MLGCC) has given approval for sports betting licenses to two more casinos. The Hollywood Casino and Ocean Downs Casino got approval on Thursday, with both operators already holding gaming licenses in the state.
New York could add casinos
The idea behind the expression of interest process in New York is to gauge the interest of casino operators in having new casinos in the area. The deadline for these proposals is December 10.
A number of major gaming operators would reportedly be interested in casino projects in the region, including MGM Resorts, Genting, Wynn Resorts, and Bally’s Corporation. It is expected that two of the three licenses could go to the operators of gaming properties that already have the ability to operate slots in the area, namely MGM Resorts and Genting.
A recent study from the NYGC estimated that having three full casinos in the region could generate additional revenues each year of between $420m and $630m. The news of the plans to potentially have three new casinos in New York comes as the state finalizes tax rates for the soon-to-launch online sports betting sector.
Maryland casinos preparing for sports betting
In addition to the two casinos that got the green light this week to offer sports betting, three other casinos in Maryland had already gotten the same approval from the MLGCC on October 6. These were MGM National Harbor, Horseshoe Casino Baltimore, and the Live! Casino and Hotel Maryland. A dozen other retail establishments are currently awaiting approval from the MLGCC.
The five casinos with sports betting licensing approval are now waiting to get an official license from the Sports Wagering Application Review Commission (SWARC). Retail sportsbooks will then be able to launch in the state as soon as the Maryland Lottery and Gaming Control Agency approve their operational requirements and internal controls.
SWARC was supposed to have a meeting on October 14, but it was postponed and has not been rescheduled. MLGCC Director John Martin has said that he believes retail operations will be able to open by late fall of 2021. He also revealed that online sportsbooks might have another year before launching.
