Bill S6913 could legalize online poker in New York

New York State Senator John J. Bonacic introduced last week the S6913 bill that could legalize online poker in the state, with a proposed tax rate of 15% on gross gaming revenues.

The ratification of the bill would see the state of New York issue up to ten online poker gaming licences valid for ten years with a one-time fee of $10m. Under the terms of the bill, the New York State Gaming Commission will have the power to dermine the suitability of the licensees. The bill, which allows the sharing of liquidity with other US states that share similar suitability standars, also comprises a « bad actor » clause that bans operators involved in online gaming within the US after December 31, 2006, « unless specificaly authorized by state or federal law ». The bill would take effect immediately upon passage and the corresponding regulations would be due within 180 days. The State Gaming Commission would then need to wait an additional 180 days to issue licenses.

The 2013-2014 New York state budget proposed by Senators Jeff Klein and Dean Skelos included provisions for online poker, and a statement supporting its regulation: “The Senate supports authorizing and regulating internet gaming for games of skill, including poker, to reflect recent changes in the classification of these games.” However, lack of support caused the provision to be dropped.

Source: CalvynAire