The Empire State just wrapped up an extensive selection process for the new commerical brick-and-mortar casinos that will go upstate, and thanks to that being finished regulators will next year hold hearings on whether or not to legalize online poker, according to GamblingCompliance.
Neighboring New Jersey has had online poker for a year now and many in New York want the same. New York is home to more than 19.6 million people; New Jersey has roughly 8.9 million.
According to an October report from the New York Times, MGM Resorts has been lobbying in Albany to get online poker approved. An analysis commissioned by MGM estimated that New York residents spend as much as $110 million on offshore online poker sites.
The study also estimated that New York could see $50 million to $80 million in annual taxes by making New York-licensed intrastate online poker sites available.
News that next year will feature online poker hearings in New York isn’t out of the blue.
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In March, an online poker bill was introduced into the state legislature, but it didn’t move anywhere. Weeks later, Sen. John Bonacic, chair of the Senate Committee on Racing, Wagering and Gaming, said: “I don’t intend to push this this year. But we need to start a discussion.” In 2012, the New York Senate made headlines by saying it supported online poker during budget talks.
Click here for a look at the old poker online bill. It’s safe to assume some version of it will be the next one to emerge in the Empire State.
Earlier this year, Morgan Stanley came out with a report on its predictions of the U.S. online gaming market, and in it the financial services firm predicted New York would have online poker in 2016.