In hopes of finding a new source of tax revenues, the Governor for New York, Andrew Cuomo (pictured), has reportedly thrown his weight behind the campaign to bring land-based sportsbetting to four upstate commercial casinos.
Commercial venues to benefit:
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According to a report from the local Democrat and Chronicle newspaper, 61-year-old Cuomo used Tuesday evening’s State of the State address to call on the New York State Gaming Commission to formulate specific rules so that sportsbooks can be premiered inside Rivers Casino and Resort Schenectady, Tioga Downs Casino Resort, Del Lago Resort and Casino and Resorts World Catskills Casino Resort.
The newspaper reported that these four new casinos were authorized in 2013 after state legislators approved the Upstate New York Gaming Economic Development Act. This measure purportedly also contained a provision that permits these venues as well as their seven aboriginal counterparts to offer sportsbetting so long as the Professional and Amateur Sports Protection Act (PASPA) federal prohibition was repealed, which occurred in May via a ruling from the United States Supreme Court.
The Democrat and Chronicle reported that the three-term Governor is reportedly facing a budget shortfall of around $3.1 billion and is now hopeful that he can begin filling at least some of this gap with new sportsbetting tax revenues generated from as early as May.
Cuomo’s statement reportedly read…
“We invested in upstate casinos. Let’s authorize sportsbetting in the upstate casinos. It’s here. It’s a reality and it will help generate activity in those casinos.”
Agreements in place:
But before this can happen, the Democrat and Chronicle reported that the New York State Gaming Commission must create a suitable stable of regulations setting out what can be offered and just how much the state’s casinos will be required to pay in tax. The newspaper detailed that the regulator is not scheduled to meet again until January 28 although any implementation process could move quickly owing to already in place partnerships between every one of the commercial properties and established sportsbetting firms.