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NY State Assembly proposes licence system for mobile wagering

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The New York State Assembly has published its 2021-22 Budget Proposal, which includes a licensing fee and tax structure, as well as projections for the fiscal impact of the legalisation of mobile sports wagering in the state.
New York

The proposal sets out changes to the state’s existing gambling laws, and modifies a proposal from Governor Andrew Cuomo by replacing its centralised procurement model with an alternative structure operating through existing land-based casinos in the state.

It sets out a licensing fee of $12m for each participating platform, and a 12% tax on gross gaming revenue (GGR).

The budget proposal shows a projected fiscal impact of the legalization of mobile sports wagering of $180m in 2022, $86m in 2023, $112m in 2024 and $118m in 2025.

It also sets out a modification to the restriction on lottery draw game offerings, proposing to eliminate a current law restriction which limits the number of daily offerings of Pick 19, Take 5, Lotto and future lottery games to a single daily offering.

Instead, under the new proposal, the games will be authorized to take place no more than twice daily.

The modification of the restrictions on lottery draw game offerings has a projected fiscal impact of $7m in 2022, and a further $9m in each of the following three years.

Read the full story on iGB North America.

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