Lawmakers in the state of New York were hoping to legalize online casino gambling in 2024, but it looks as if that is not going to be the case. Senator Joseph Addabbo is the man that is pushing for new iGaming options, but he is starting to realize that he will be defeated.
The first sign that the state would not consider online casino legislation came when Governor Kathy Hochul announced her preliminary budget for next year. There was still a chance that legislators could add iGaming to the budget, but Senator Addabbo announced that the Senate is not going to go that route.
Discussion of online casino gambling is going to be on the backburner for the time being, but lawmakers are not going to give up on it entirely. Addabbo believes that discussions could resume in June, or at least some point again in 2024.
New York has already become the largest online sports betting market in the United States, and it would likely have been the online casino leader. This announcement is big for New Jersey as it will allow the online casinos in that state to continue to cash in.
Some Serious Opponents
Attempts to legalize any new form of gaming always comes with some opponents, and things got pretty serious in the state of New York. The New York Hotel and Gaming Trades Council was one of the groups that spoke out about this piece of legislation, and Governor Hochul listened.
This group worried that jobs would be lost if online casinos were legalized, even though studies showed that there would be little to no job loss. Addabbo tried to counter further by providing $25 million to casino workers, but the opposition was enough to scare away some lawmakers as well.
New York is also working to get a new downstate casino up and running, and that complicated matters. Some lawmakers wanted to include that in this bill, while others wanted it to become a separate issue.
The New York gaming industry is large, but all of the betting is limited to remote locations in the state. New York City is not home to any casinos, and that has hurt the earning potential when it comes to casino revenue.
Projections showed that New York could generate more than $4 billion per year with online casinos, and that would put it above the other markets in the United States.
More Attempts Coming
Addabbo was persistent when it came to legalizing online sports betting, and that will be the case with this industry as well. He has maintained that this needs to be legalized as a part of the budget, and New York will be facing a deficit of nearly $9 billion heading into 2025.
The legislative session extends through June 6, or lawmakers will also be meeting again later this year in December. It seems likely that online casino revenue will be included in the 2025 budget, but the opponents aren’t going to go away.
