Wednesday December 24,2014 : ONLINE POKER FOR NEW YORK NEXT YEAR?
Will the Empire State achieve legalization by 2015 – 2016?
Previous attempts to get regulatory and licensing laws for online poker through the New York State Legislature may have failed, but reports from the state indicate that another attempt will be made in 2015.
Legalisation by the Empire State could be a major breakthrough in the USA; New York has a population more than twice that of New Jersey at almost 20 million, something that MGM must have noticed to persuade it to lobby for legalization earlier this year.
Back in October the New York Times reported on the online poker lobbying activity in Albany by MGM following the results of a study that suggested that poker fans in the state spend up to $110 million a year on foreign internet poker sites.
The study further whetted lawmakers' appetite for taxes by estimating that the state government could benefit by up to $50 to $80 million annually if intrastate legalization of online poker were to be achieved.
In March this year a legalization proposal was introduced to the state legislature but did not gain any traction and failed at committee stage. However, the chairman of the state Senate Committee on Gaming and Wagering, Sen. John Bonacic, did comment on the need for a discussion on the subject, keeping hopes alive.
Analysts at investment bank and financial services giant Morgan Stanley have predicted that online poker legalization in New York State is a possibility around 2016.