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Senator Joseph Addabbo Jr., a prominent supporter of the gambling industry has filed another iGaming bill in New York. SB 2614 follows in the wake of earlier efforts to legalize online casinos in the state.
Addabbo Launches an iGaming Bill for the Third Year in a Row
Addabbo, who has previously sponsored iGaming bills, referred SB 2614 to the Senate Committee on Racing, Gaming, and Wagering. The measure proposes the creation of an online gaming framework, as well as regulatory changes to licensing and taxation that would pave the way to the vertical’s launch.
Under the measure casinos, VLT companies, sportsbooks and tribal operators would be able to apply for licenses. An important point of Addabbo’s latest bill, however, is that companies that have previously offered unlicensed gambling in New York would be unable to receive a license.
Casinos, VLT companies, or other existing land-based operators interested in operating iGaming in The Empire State would have to pay a one-time fee of $2 million. Independent contractors seeking to host an operator’s online casino platform, on the other hand, will have to pay a $10 million fee.
Under this proposal, New York would allow no more than one skin per operator.
An Emphasis on Safer Gaming
If SB 2614 passes, New York would finally get its own iGaming industry after several years of failed attempts. This could generate significant additional tax income for the state as Sen. Addabbo envisions a 30.5% tax on operators’ GGR.
In addition to limiting the iGaming operations to licensed retail gaming facilities, the bill would require the iGaming servers to be located on the actual premises of said facilities.
Addabbo’s proposed framework also includes an emphasis on safer gambling and would require operators to implement robust safer gambling protocols. As a result, iGaming companies would need to verify the age of their players and provide them with safer gambling and self-exclusion tools. While the framework wouldn’t fully ban gambling on credit, it will set a limit on credit card funding of $2,500 a year.
Additionally, the bill would support problem gambling education and treatment in the state.
Addabbo’s Efforts Continue
As mentioned, this wouldn’t be the first time Addabbo has championed online gambling. One of his most recent measures, Senate Bill S9226, was filed last year and sought to usher in online poker. The same year, Addabbo tried to convince the New York Governor to include iGaming provisions in her budget.
In the meantime, Addabbo has remained a firm opponent of the growing sweepstakes sector. Like many industry stakeholders, he argues that the vertical constitutes illegal online gambling and should therefore be banned. As a result, he is now working on a measure that would prohibit these controversial grey market games in New York.
Conversely, New Jersey recently proposed regulating sweepstakes instead, potentially allowing The Garden State to capitalize on tax revenue from this growing vertical.
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