After several months of waiting and guessing, casino companies and interested parties finally have some of their answers about New York’s upcoming casino licenses. In a 103-page document dubbed Round 1 – Questions and Answers, the New York Gaming Facility Location Board addressed some of the hot questions.

Going over a whopping 613 questions, the board provided some clarity on the subject. For reference, the original questions were submitted back in February.

Questions range in importance but some of them answer some of the hottest questions about the licenses. The board, for example, said that a license fee would be at a minimum of $500 million. It added that applicants can submit a higher sum if they wish. In addition, the document says that a facility must cost at least $500 million to build.

The board also clarified that licenses can vary in validity up to a maximum of 10 years. The length of a license, as well as other terms, will depend on the value of the applicants’ proposals compared to those of their competitors.

Another major confirmation is that the three recipients of the downstate casino licenses will be allowed to incorporate a sportsbook into their property.

Companies Have a Month to Read the Answers and Submit More Questions

Casino companies interested in grabbing one of New York’s three available casino licenses now have around a month to read through the New York Gaming Facility Location Board’s answers to their questions. During that time, casino companies can also pose a second round of questions.

By October 6, casino operators can ask additional questions and demand clarifications on the answers in the Round 1 document. Following that the board will return to answering questions. However, the body provided no indication as to when Round 2 – Questions and Answers may be released.

The New York Race Is as Heated as Ever

Casino companies are likely to spend hundreds of millions, if not billions, of dollars during the race for a casino license. In addition to the license fees and minimum facility costs, companies will also have to spend money on promoting their projects over those of their competitors.

Despite the difficulties, many companies consider New York to be a “worthwhile prize” because of the myriad of opportunities it provides. Because of that, Silverstein and Greenwood entered the race two months ago.

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As a leading US gambling equipment manufacturer, Everi maintains a presence in several states. However, rising costs have pushed the company to consolidate its operations in a new state-of-the-art facility located in Las Vegas. Everi’s new hub will be significantly more energy-efficient and employee-friendly while retaining its focus on operational effectiveness and excellent customer service.

The New Venue Boasts Many Impressive Features

Everi’s most recent press release focused on the company’s planned 182,500-square-foot leased facility in Las Vegas. The high-tech building is already under construction and should meet all the manufacturer’s needs. Upon completion, the facility will host most of Everi’s manufacturing, assembly, and distribution efforts, centralizing its operations in one state for easier management.

Streamlining all of our… processes into a single facility designed to our specifications would best serve the needs of our large and growing casino customer base.

Randy Taylor, Everi CEO, and president

The state-of-the-art building will help simplify supply chains. Its location in the middle of the USA and proximity to the country’s largest gaming hub will significantly relieve distribution pressures. The facility’s substantial size will allow it to hold Everi’s production, receiving, and shipping, with ample space remaining for Games and FinTech lab facilities, service, customer installation teams, and administrative staff.

The Everi team has taken great care to future-proof the new venue, allowing ample room for expansion. Environmental sustainability and an employee-friendly working environment also received significant attention. Energy-efficient design and solar power installations will significantly reduce the building’s ecological impact. Occupant wellness features like thermal comfort, ample parking, and electric recharging stations will significantly bolster employee comfort and morale.

Customers Should Remain Unaffected by the Move

Moving a large and active production base will be challenging for Everi. The company’s FinTech product assembly team at its current Vegas facility should have a reasonably easy time relocating, but consolidating manufacturing bases in other states will be significantly more challenging. Despite such difficulties, the economic and employee benefits should be worth the extra effort.

Production of gaming machines currently happens in Austin, Texas. Everi’s press release mentions that the relocation will affect 35 employees who can either move to Vegas or apply for other positions at the company. Transitioning to the new facility will be performed gradually over six months to avoid delays or disruptions.

We have the highest regard for our Austin employees who will be impacted by this initiative… and will strive to make any transition as painless as possible.

Randy Taylor, Everi CEO, and president

Centralizing resources and streamlining production seem like sound investments in the current uncertain economic climate. The move to one primary location should net Everi long-term financial benefits, hopefully offsetting the cost of the new facility. The company currently enjoys a healthy position, making this the perfect time to invest in similar sustainable long-term initiatives.

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