The New York State Gaming Commission has officially issued a Request for Proposals (RFP) for companies interested in launching their gaming market. This is the last in a line of measures taken up by state legislators to better understand how the industry works. This includes fiscal, economic, and social impacts, as well as its potential for expansion.
Proponents of the interactive gaming market in New York are hopeful of the success of this study. On the other hand, skeptics are still holding fast to some claims that could prevent progress. As the story unravels, residents of New York have all up to the New Year’s Eve celebration to get some insight into their gaming markets.
- The NY State Gaming Commission issued a study to understand their current gaming market better.
- The company conducting the study will need to comply with a list of points included in the proposal.
- Positive results from the study could bring an expansion of the online and land-based gaming market.
A Closer Look at the Interactive Gaming Study
Saying that the study would represent a comprehensive overview of the New York gaming scene would be an understatement. The company that gets the approval to conduct the study will need to analyze much more than what meets the eye.
The Focus of the Study
The New York Gaming Commission is looking to understand the effects of multiple changes they could potentially be made to the existing industry, and how these would reflect on the current situation. In order to do this in the most efficient way, they have drawn up a rather extensive list of requests for the company to follow through. The focus is placed on the current establishments and their operations:
- Commercial casinos
- Video lottery terminals (VLTs)
- State lottery
- Tribal casinos
There are currently four commercial casino establishments, located upstate as an attempt to help the less populated rural settlements in the area struggling after the recession. These gaming forms were mainly the product of a 2013 approval by state voters.
The Political Side of Things
This RFP has also been the point of focus for current legislators, as they are struggling for a breakthrough in the case with legal online and mobile sports betting in the state. While proponents say that it isn’t constitutionally binding to have a people’s vote on sports betting, legislators seem to be unwilling to take the risk.
They are looking to understand the possible repercussions of a new form of gaming, as well as an expansion of the current one. After all, the 2013 vote allowed up to seven commercial casinos.
Nevertheless, market segment impact is not the only potentially affected by this change. Another provision in the Commission’s RFP is looking to get an analysis of the economic, fiscal, and social implications of such expansions.
What Does the Future Hold for Gambling in New York?
The state of New York mainly fears the effect of three new commercial casino establishments in the downstate area, on their existing counterparts upstate. After all, the industry is a rather lucrative one. Should sports betting become a reality, it is expected to surpass neighboring New Jersey’s sports betting industry.
Legal Sports Betting
As it stands, residents of the state have no other option but the small areas dedicated to sports betting practices on the casino floors. The proposed study is said to analyze this current state of affairs, including the potential to expand sports betting in video lottery facilities, and to introduce off-track betting.
The study has been set to start on September 1 with a preliminary draft due on November 29. The final report is expected no sooner or later than the ball drop on New Year’s Eve.