Online poker bill makes progress in New York
Legislation clears first hurdle after passing out of the Senate Racing, Wagering and Gaming Committee
A bill seeking to legalize and regulate online poker has made historic progress in New York after passing out of Committee for the first time. [private]
A number of bills shave been introduced in the state in recent years, but this marks the first time legislation has been voted on and passed out of Committee.
Senator John Bonacic introduced the bill, S5302B, back in May last year to the Senate Racing, Wagering and Gaming Committee, of which he is chair.
The bill passed with a majority of 9-0 and has now been sent to the Senate Finance Committee, where a hearing has yet to be set.
In a statement following the hearing, Bonacic said his bill had âtaken the necessary step forwardâ and he anticipated having on-going discussions with both Houses about progressing the bill.
If passed into law, the S5302B would establish a regulatory framework for online poker in the state with up to 10 interactive licenses up for grabs.
License fees would be set at $10m with tax rates set at 15% of gross gaming revenue; the state would also be able to enter liquidity compacts.
John Pappas, head of the Poker Players Alliance thanked the Committee for âacting quicklyâ to pass online poker legislation and encouraged the Finance Committee to do likewise.
Pappas also urged the legislature not wait until the stateâs commercial casinos have been established before moving forwards with online gaming.
âIt would be a mistake for New York to wait for its brick-and-mortar casinos to go online. Moving internet poker legislation now would establish an existing customer base of poker players for B&M casinos when they open their doors for business,â Pappas said.
âItâs New Yorkâs turn to give their consumers what New Jersey, Nevada and Delaware constituents already haveâa safe and regulated online market that is accountable to the players, regulators and law enforcement,â he added.