As promised, Senator Addabbo is pushing forward with new online gaming legislation
A New York lawmaker is confident he can solve the state’s budget deficit by introducing online casinos. Senator Joseph Addabbo filed new legislation to bring iGaming to New York, attempting to gain momentum off his 2023 legislative proposal.
Addabbo introduced SB 8185 this week, which would amend the NY sports betting law to add online gaming. Current online sportsbooks, commercial and tribal casinos, and video lottery terminal operators would be included, with their gross gaming revenue from iGaming taxed at 30.5%, mirroring last year’s bill. They will be permitted to offer one skin and must pay a $2 million fee for a 10-year license.
SB 8185 would legalize “any internet-based version or substantial equivalent of a table game, slot machine constituting spinning reels, poker tournament, or any other game as set forth… and approved by the commission.”
The state would create live dealer studios and installations to offer a variety of popular casino games. The bill also presents a New York internet lottery and adds 0.02% tax revenue for employee training. It would also be regulated by the New York Gaming Commission.
Addabbo couldn’t advance a similar bill in 2023. S4856 didn’t get much attention in the chamber in the last session. Reports show New York faces a budget deficit that could swell to almost $10 billion by year’s end. Addabbo feels iGaming can thrive like sports betting, which generated over $862 million in tax revenue in 2023.
The bill should be a hot topic in the New York legislature for the next few months. If Addabbo can gain enough support early in his efforts, the bill could have the prospect of passing by summer.
Emma Rodriguez is the Proofreader at the Big Blind, with seven years of experience and five years in online gambling. She plays a crucial role in maintaining content quality by ensuring error-free, reader-friendly information about the gambling industry.
