The New York State Gaming Facility Location Board has extended the deadline for downstate casino bids to June 27, 2025. This decision comes even as a bill proposing an earlier deadline of August 31, 2024, awaits Governor Kathy Hochul’s signature.

New Timeline for Downstate Casino Bids

On June 27, 2024, the Gaming Facility Location Board unanimously approved the new timeline. The revised schedule requires all applications to be submitted by June 27, 2025. Following this, Community Advisory Committees (CACs) will form to begin their statutory evaluations. CACs must vote on their respective projects by September 30, 2025, after which approved applicants will submit additional materials, including proposed tax rates, for further evaluation.

The board plans to make its decisions by December 1, 2025, with the New York State Gaming Commission issuing licenses by December 31, 2025. This extended timeline is designed to ensure that all legal and procedural requirements are met, giving communities ample opportunity to voice their opinions and allowing applicants to finalize necessary zoning and environmental approvals.

Conflict with Pending Legislation

Senator Joe Addabbo’s bill (S9673A), passed through the House and Senate in early June 2024, proposes an August 31, 2024 deadline for bid submissions. However, board members expressed concerns that this deadline is unrealistic. Board chair Vicki Been stated, “The hope would be that our reasoning will be helpful to the governor,” indicating the board’s belief that a rushed deadline would not be practical given the complexity of the bidding process.

Bidders must complete zoning changes and environmental impact studies before their proposals can be reviewed. Currently, sites like Bally’s Bronx proposal and Steve Cohen’s Queens proposal require rezoning, as they are designated as parkland. Both developers are lobbying local and state boards for these changes, but the approvals are not yet in place.

Interested Bidders and Proposals

There are 11 bidders interested in the three available casino licenses for downstate New York. The proposals and their respective developers and operators include:

• Avenir: Silverstein Properties (Developer), Greenwood Gaming (Casino Operator) – Manhattan
• Bally’s Links at Ferry Point: Bally’s Corporation (Developer and Casino Operator) – The Bronx
• Caesars Palace Times Square: Caesars Entertainment, SL Green, Roc Nation (Developers), Caesars Entertainment (Casino Operator) – Manhattan
• The Coney: Thor Equities, Legends Entertainment, the Chickasaw Nation, Saratoga Casino Holdings (Developers), Saratoga Casino Holdings (Casino Operator) – Brooklyn
• Freedom Plaza: Soloviev Group (Developer), Mohegan Gaming (Casino Operator) – Manhattan
• Metropolitan Park: Steven Cohen (Developer), Hard Rock International (Casino Operator) – Queens
• MGM Empire City: MGM Resorts International (Developer and Casino Operator) – Yonkers
• Resorts World New York City: Genting Group (Developer and Casino Operator) – Queens
• Sands New York: Las Vegas Sands (Developer and Casino Operator) – Long Island, Nassau County
• Saks Fifth Avenue: Hudson’s Bay Company (Developer), TBD (Casino Operator) – Manhattan
• Wynn New York City: Related Companies, Oxford Properties Group (Developers), Wynn Resorts (Casino Operator) – Manhattan

Community and Regulatory Considerations

In addition to securing community support through CACs, applicants must navigate the State Environmental Quality Review Act (SEQR) process. This extensive review is essential to identify and mitigate any adverse environmental effects of the proposed projects. The City of New York has updated its zoning code to permit licensed commercial casino gambling, but some potential applicants still face additional zoning hurdles.

The board’s decision to extend the bid deadline aims to provide a fair and thorough evaluation process, ensuring that all proposals meet the required standards and that the community’s voice is heard.

Source:

The New York State Gaming Facility Location Board (PDF), June 27, 2024. 

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In April, the New York State Gaming Commission revealed a robust sports betting handle of nearly $1.97 billion, narrowly missing the $2 billion mark, marking the fourth time in history it came close to this milestone. The impressive figures were partly fueled by revenue collected in the final week of March, which was absorbed into April’s financial records due to the state’s fiscal year starting on April 1st. Consequently, there was a notable 6.2% month-over-month increase in handle from March, a rarity in the industry, accompanied by a 20.6% surge in sports betting revenue, reaching $184 million.

This handle places New York fourth all-time nationally in the post-PASPA era, reaffirming the state’s monopoly on top-10 all-time totals. Similarly, the revenue total ranks fourth overall, with the Empire State claiming eight of the top-10 monthly operator winnings, leaving states like New Jersey and Ohio trailing with just one apiece.

Steady Growth and Revenue Surge

Comparing April 2024 to the same period in 2023, there was a notable 27.1% increase in handle and a 32.1% surge in revenue, showcasing a steady growth trajectory in New York’s sports betting landscape. The total accepted bets through the first four months of 2024 reached $7.57 billion, marking a 14.4% increase from the previous year. Moreover, the near-9% win rate generated $679.6 million in revenue, a substantial 21.1% increase.

The state collected $93.8 million in taxes, with the bulk of it sourced from New York’s nine mobile operators, demonstrating the significant economic contribution of the sports betting industry. Year-to-date, the state’s tax receipts stand at $345.1 million, surpassing last year’s pace by $59.6 million and on track to exceed $1 billion, doubling the initial projections set by former Governor Andrew Cuomo.

FanDuel’s Remarkable Performance

FanDuel showcased an impressive recovery with an 11.7% hold, avoiding its third consecutive month with a sub-10% hold. This achievement is noteworthy, especially considering the challenges faced in the early months of mobile betting in New York. With a win rate of 11.7%, FanDuel amassed $91 million in revenue from $780.5 million worth of wagers, surpassing $1.8 billion in total revenue in the Empire State.

Distinct Performances of Leading Operators

DraftKings witnessed a remarkable 42.7% year-over-year increase in handle, reaching $737 million, while maintaining a solid 8.6% hold, resulting in a substantial revenue of $63.2 million for April. Caesars, however, experienced a decline in market share, with its 8.1% contribution to the total mobile handle marking an all-time low. Despite this, Caesars managed to surpass $400 million in total revenue.

Fanatics Sportsbook, in its first full month as an operator in New York, reported $5.6 million in revenue, setting an all-time high, with a 7.5% hold. Similarly, BetRivers and BetMGM showcased steady performances, contributing to the diverse landscape of sports betting operators in the state.

May’s Promising Start

The first week of May saw a promising surge in sports betting activity, with a combined handle of $484.1 million among the nine mobile operators. DraftKings led the pack with its second-highest week of action, totaling $217.2 million in handle. FanDuel, accounting for more than half of the operator winnings for the week, reported $12.6 million, contributing to the overall positive momentum in New York’s sports betting industry.

Source: “New York Narrowly Misses $2 Billion In Handle for April”. Sports Handle. May 10, 2024.

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Gaming Laboratories International (GLI), a provider of high-quality land-based, lottery, and iGaming testing and assessment services, announced that it has been approved as an Independent Test Lab in North Carolina.

Having been greenlit by the NC State Lottery Commission, GLI now has authorization to evaluate gambling equipment, software and processes for compliance with state law and commission rules.

This approval further expands the company’s presence in the US, cementing it as a leading test lab. For reference, GLI is an authorized test lab for 65 lotteries and for 707 markets across the world. The company excels in a variety of compliance-related services, including regulatory compliance, technical compliance, end-to-end testing and full lifecycle compliance.

GLI’s latest approval was praised by the company’s vice president of global lottery solutions, Angela Wong. She expressed her team’s excitement saying that GLI is thrilled to be approved to test and certify for the North Carolina State Lottery Commission.

Our testing and consultation services are unmatched because we combine innovation with compliance and a global reach and presence that gives our clients a world of insight.

Angela Wong, VP of global lottery solutions, GLI

GLI Continues to Expand Its Influence and Team

In other news, GLI recently secured accreditation for its testing laboratories in India and Canada. This followed accreditation to the ISO/IEC 17025:2017 standard from the American Association for Laboratory Accreditation (A2LA).

Back then, GLI said that this accreditation attests to its ongoing commitment to the highest possible quality testing services. For reference, all of the testing specialist’s labs are currently operating under the latest requirements of ISO/IEC 17025:2017.

In other news, GLI recently reinforced its team with two major promotions. The company promoted the experienced Ginnie Hollis and Samantha Powell as vice presidents of engineering. Hollis is based in GLI’s office in Colorado, USA, and will take care of the company’s digital operations. In the meantime, Powell, who is based in GLI’s office in Adelaide, Australia, was tasked with supporting the testing provider’s land-based-related operations.

The promotion of Hollis and Powell followed the appointment of Richard Howarth as chief business officer for the APAC region.

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In a move to address the escalating property tax concerns of older constituents, Utah Representative Kera Birkeland is championing a proposed constitutional amendment that would legalize the state’s first-ever lottery. 

Rep. Birkeland’s Lottery Proposal Could Boost Utah’s Finances by $200M

Rep. Birkeland contends that legalizing the lottery could inject up to $200 million into Utah’s coffers, money currently flowing across state lines as residents travel to neighboring states like Idaho, Wyoming, and Arizona to purchase lottery tickets. The proposal aims to redirect these funds to alleviate the financial strain on seniors facing rising property taxes, reported KSL.

The lawmaker’s initiative sparks a broader conversation about the intersection of gambling practices, fiscal policies, and the unique challenges posed by Utah’s comprehensive ban on all forms of gambling. Utah and Hawaii are the only states where any game of chance is strictly prohibited.

Birkeland argues that the prohibition on gambling has deprived the state of a significant revenue stream. She emphasizes the real-world impact on seniors, sharing stories of constituents forced to sell their homes due to soaring property tax bills.

While the full details of the bill are yet to be unveiled, Birkeland is considering including a stipulation that mandates tax revenue from lottery sales be dedicated to offsetting the tax burden on older adults with fixed incomes. 

The proposal faces a significant hurdle, as a constitutional amendment requires the support of two-thirds of lawmakers in both chambers and approval by a majority of voters in the upcoming general election.

Gov. Cox Challenges Lotteries, Deems Them Harmful

Gov. Spencer Cox, despite not possessing the authority to veto constitutional amendments, conveyed his opposition in a recent news conference, asserting that he believes lotteries and gambling, in general, function as taxes on individuals who struggle with mathematics, causing more harm than good.

Despite the challenges and opposition, Birkeland is determined to push the bill forward, emphasizing the need to address the primary concern of her constituents regarding property taxes. 

Birkeland recognizes the challenging nature of the endeavor but maintains her determination, asserting that she has introduced several bills attempting to limit property taxes and decrease government spending, yet none of them has gained traction.

The proposal reignites the ongoing debate on gambling laws in Utah, with past endeavors facing significant resistance. Birkeland’s initiative signals a potential shift in the state’s stance on gambling, setting the stage for a contentious legislative session.

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The 2023 Cotton Bowl Classic will be the 13^th time that the Missouri Tigers are taking on the Ohio State Buckeyes. The Buckeyes lead the all-time series 10-1-1, but it’s been a while since these two played each other the last time. In fact, their previous duel happened in 1998.

Twenty-five years later, the Tigers are favored to win. However, the odds suggest the 2023 Cotton Bowl Classic is going to be a very close game.

Missouri Tigers vs. Ohio State Buckeyes 2023 Cotton Bowl Classic Odds

9231 players claimed the offer this month

When, Where, and How to Watch?

• Place: AT&T Stadium in Arlington, Texas             
• Date: Friday, December 29, 2023
• Time: 8:00 p.m. ET
• How to Watch: ESPN

Missouri Tigers Want to Cash In on Their Good Form

The Missouri Tigers finished the regular NCAAF season with a 10-2 record. Their only losses happened to Georgia and LSU. In both of those games, Missouri was the underdog.

Throughout the season, Eliah Drinkwitz’s boys were good both offensively and defensively. They did concede 49 points against LSU, but Missouri’s defensive team kept all the other opponents to no more than 31 points.

Still, if there’s something their fans will remember the 2023 college season for, it’s Missouri’s super-productive offense. Their average was 34.08 PPG, which is pretty respectable.

They got to such a high number thanks to some brilliant performance of their quarterback Brady Cook who threw for 3,189 yards and 20 touchdowns in 2023. His favorite target was wide receiver Luther Burden who recorded 1,197 receiving yards and eight touchdowns this season.