NY Online Casino Hopes Dim Without Hochul's Budget Inclusion

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NY Online Casino Hopes Dim Without Hochul's Budget Inclusion
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It was a rough start for Sen. Joseph Addabbo’s 2024 push to legalize online casino sites in New York. As she did last year, Gov. Kathy Hochul did not include potential tax revenue from online casino expansion in her budget.

The news is a blow to the prospects of S8185, Addabbo’s recently filed attempt to legalize online casinos in the state. Addabbo previously has said he will not push hard for the bill without Hochul’s support. The budget indicates he doesn’t have that, which strongly hampers the bill’s prospects.

The gaming elements that did make it into Hochul’s budget apply largely to horse racing. She hopes to extend the existing parimutuel tax rates and simulcast revisions into FY2025. Additionally, she was to continue to allow some off-track betting facilities flexibility in terms of spending their capital funds.

What wasn’t included was another bill by Addabbo, which would allow for fixed-odds racing at tracks in addition to parimutuel betting.

Hochul is currently dealing with other gaming issues this year, including the vetting of potential licensees for the three downstate casino licenses. Additionally, she is still working on a long-term renewed agreement between the state and the Seneca Nation.

Hochul and the Seneca agreed to a temporary extension of the existing compact, which expired on Dec. 9, through March 31.

March 31 is also the date a final budget agreed upon by the legislature and Hochul needs to be passed.