Applicants for up to three commercial casino licenses available in downtown New York 경마사이트프로 must provide authorities with at least $500 million due within 30 days of the license award, it said on Tuesday.
Major Asian game operators, including Malaysia's Genting Group, Las Vegas Sands Corp, MGM Resorts International and Wynn Resorts Ltd, have been among those that analysts have previously expressed direct interest in or linked to the New York Downstate license bid.
Information on the size of the license fee was released on the day of the Game Facilities Location Committee meeting in New York. In other words, the bidder can offer a higher price.
The relevant casino authorization period will be between 10 and 30 years, depending on the amount of investment promised.
The state launched a request for information procedures for prospective suitors in October 2021.
Under the 2022-23 fiscal year budget, how much revenue each project can provide to the state of New York and how many jobs can be created directly or indirectly will be an important factor in evaluating the proposal.
The possible locations mentioned in the document were the boroughs of the Bronx, Kings County, New York City, the boroughs of Queens, and Richmond County.
Industrial consultant Spectrum Gaming Group LLC compiled a market survey for the New York State Game Board, published in January 2021. Its management summary suggested that the Downstate region "apparently represents the greatest growth potential."
The report added that Northern New York State, where most of the state's casino total gaming revenue now occurs, "is operating above reasonable potential, and shows market saturation and limited growth potential other than organic or inflation growth."
The report said statewide gaming revenue grew from $2.9 billion to $3.8 billion from 2015 to 2020, while non-gaming revenue at these venues increased from $400 million to $549 million, bringing total revenue to $4.4 billion from $3.3 billion.
Taxes on games contributed directly to $1.3 billion in 2015 and $1.6 billion in 2020, the Spectrum Gaming report added.
Malaysia's Maybank IB Research suggests Genting Group will be the leader in downtown New York casino licensing. The group already operates an electronic gaming facility called Resorts World Casino New York City and invests in Empire Resorts Inc, which operates Resorts World Catskills, a full-service casino in northern New York.
Genting also operates Resorts World Genting in Malaysia and Resorts World Sentosa in Singapore as part of its global gaming assets.
Las Vegas Sands reiterated its interest in New York State in its first-quarter earnings report in April. The group manages Macau operator Sands China Ltd and operates Marina Bay Sands casino resort in Singapore.
MGM Resorts CEO and President Bill Hornbuckle said in the company's third-quarter earnings call that the group "expects to issue a casino RFA [request for application] by early January this year." "We are developing a compelling proposal and are looking forward to submitting it in the coming months," he said.
MGM Resorts operates an electronic gaming facility called Empire City Casino in Yonkers, Westchester County, New York. The company is also the parent company of MGM China Holdings Ltd, a Macau concession company.
In September last year, Win Resorts, the parent company of Macau operator Win Macau, announced that it had partnered with U.S.-based real estate firm Related Companies LP to bid for a downtown New York casino license.