The opening of new casinos in New York has been postponed due to licensing issues

The process of granting licenses for the opening of three new gambling establishments in New York may take significantly longer than initially anticipated. Industry insiders and experts had previously speculated that bidding for the licenses could take place as early as January. However, as the month draws to a close, several key processes remain incomplete.
A recent report by Newsday, citing industry insiders, suggests that the issuance of licenses in Downstate New York may not occur until the first quarter of 2025. This indicates that the timeline for the process is extending well beyond earlier expectations.
Currently, the Gaming Facility Location Board is expected to publish responses to questions raised by interested parties. The first round of inquiries took place back in August, followed by a second round in October. Once the results are released, operators will have a 30-day window to register for the bidding process.
In addition, license applicants must also address issues related to site selection for the construction of the casinos. Late last year, New York City Mayor Eric Adams introduced a new proposal aimed at streamlining this process. However, last month, this ambitious plan to expedite the opening of new gambling venues faced pushback from community boards.
Industry insiders have noted that the delay in licensing is not surprising. The reason is that revenue from the three new casinos was not included in the city’s budget for the 2024-2025 fiscal year.
As a result, if the licenses are not issued soon, New York could miss out on significant revenue. Preliminary estimates suggest that the total licensing fees could generate around $1.5 billion in additional income for the state.
The budget for the 2025 fiscal year, released by Governor Kathy Hochul earlier this month, also brought disappointing news for online casinos. Despite efforts to legalize iGaming, provisions related to this activity were not included in the $233 billion budget.
Meanwhile, the Philippine Charity Sweepstakes Office (PCSO) and the Philippine Amusement and Gaming Corporation (PAGCOR) are considering reducing taxes on casino winnings and lottery prizes.