The licenses for the upcoming three downstate casinos in New York could cost $1 billion or more each, double than initially expected. The license fee was proposed by the state Senate in the one-house budget, released on Sunday. The budget says that the New York State Gaming Commission’s siting board “shall determine a licensing fee to be paid by a licensee within thirty days after the award of the license which shall be deposited into the commercial gaming revenue fund; provided however that such licensing fee shall be no less than one billion dollars per license." Meanwhile, the Assembly’s one-house plan doesn’t include a proposed figure for the three downstate licenses, reports Politico. The licensure terms are to be negotiated as part of the budget for the fiscal year, which starts April 1. Additionally, the Senate proposal makes a nod to Resorts World New York in Queens and Empire City in Yonkers -which are seeking to expand into full casinos- by including language that encourages state regulators “to consider private capital investment” made previous to the effective date of the license. In determining whether an applicant is eligible for a license, evaluation will take into account a series of factors into account. These include realizing maximum capital investment exclusive of land acquisition and infrastructure improvements; maximizing revenues received by the state and localities; and providing the highest number of quality jobs.... https://www.facebook.com/groups/YonkersNewswire/posts/3195972957326927/
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