The New York State Gaming Facility Location Board has officially kicked off the bidding process for three commercial casinos. The winners will be required to pay at least half a billion dollars in licensing fees and that number is a minimum. Without capping the fee, the board set up a potential bidding war for one or more of the licenses.
The board also laid out a tax scheme of 25% on slot machines and 10% on table game action. While some of the scoring and requirements to determine a winner seem clear-cut, according to the board, “Other important components of the Application may depend upon the understanding of the potential competitive landscape with other Applicants, which may only be gauged after these processes have been completed.”
The board also laid out a tax scheme of 25% on slot machines and 10% on table game action. While some of the scoring and requirements to determine a winner seem clear-cut, according to the board, “Other important components of the Application may depend upon the understanding of the potential competitive landscape with other Applicants, which may only be gauged after these processes have been completed.”