NY selects top mobile betting bidder, as operators could face 64% tax rate
| By iGB Editorial Team
The New York State Gaming Commission has given prospective mobile sports betting operators until 5pm on Monday to amend their proposed tax contributions, after confirming that rates of up to 64% of gross gaming revenue could apply to applicants.
The commission, which set a deadline of August 9 for applications, said that it had already ranked the bids by score – and selected the highest tax rate offered among the bidders.
The 64% rate would apply if the Commission selects four or five operator licenses, with contributions dropping gradually to 50% for between 10 and 12 operators and 35% for 13 or more. Fourteen operators have featured in the bidding process so far, although any that decline to conform with the new tax matrix will be cut from the process.