No Licence For New Casinos Until 2023 – Cuomo

No Licence For New Casinos Until 2023 - Cuomo

The efforts of MGM Resorts, LVS Corp and the Genting group to get Casinos in the New York Metropolitan Area is not bearing any fruits, reports Dampening their efforts is New York Governor Andrew Cuomo who says that he would not consent to the lifting of the moratorium which restricts granting new casino license before 2023.

Not even the relentless approach coupled with lucrative offers of billions of dollars from “powerful lobbyists” has met with any success.

Of the four Casinos that the MGM operates, apart from those upstate, are only authorized to offer slots and table games. Despite desperate attempts, the gambling giant hasn’t been able to see anything changing until 2023.

In a statement to the press in Albany on Wednesday, Governor Cuomo said “I am very skeptical about some casino deal put together by casino operators promising billions of dollars, and everybody is happy. When we did casinos, we were very careful because there’s a lot of money floating around and a lot of lobbyists floating around. And we were very careful to go through a process. It was primarily for upstate New York.”

Though the upstate casinos came up in 2013 after voting, the moratorium has restricted the casinos. However, this moratorium can be revoked by the lawmakers. Now, with the upstate casinos suffering from shrinking revenue, they are leaving no stones unturned in their efforts to get the moratorium lifted.

Also, reports suggest that big operators like MGM and LVS are willing to pay a hefty sum to revive their underperforming casinos. As reported by the two companies have offered to pay New York $500 million each for a foothold in the market.

Moreover, earlier this week New York State Gaming Commission published a regulatory framework for sports betting, and it is expected that New York casinos may start taking wagers on sporting events and tournaments beginning May 1.

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