Despite his best efforts to legalize mobile casino games in New York this year, state Senator Joe Addabbo doesn’t expect Senate Bill 4856 to feature in the upcoming fiscal budget.
the bill’s omission would effectively can the measure for the calendar year
The senator said on Monday: “iGaming is probably not going to be in the Senate one-house budget.” He confirmed that the bill’s omission would effectively can the measure for the calendar year, unless New York Governor Kathy Hochul grants it a last-minute lifeline.
Last week, however, Addabbo informed the press that if the one-house budget for fiscal year 2023-24 excludes SB 4856: “We’re done.” The fiscal year budget is due out on April 1.
The senator estimates New York loses around $1bn per year in mobile casino bets either placed via illegal offshore operators or in other states with a legal market. According to a study conducted by Spectrum Gaming, iCasino has the potential to generate gross gaming revenue (GGR) of up to $3.1bn in its inaugural year in New York and up to $4bn by the fifth year.