New York iCasino Bills Return for Fifth Straight Year With $2.5B Revenue Projection

New York lawmakers are taking another run at legalizing online casino gaming. Sen. Joseph Addabbo Jr. has reintroduced the legislation for the fifth year in a row.

Senate Bill 2614 would authorize online slots, table games, live dealer products, and poker tournaments through platforms run by existing licensed gambling entities. Assemblywoman Carrie Woerner filed companion legislation in the Assembly.

First-year revenue is projected at $2.5 billion, potentially rising to $4.5 billion in later years. The state loses roughly $1 billion a year to neighboring markets and offshore sites, according to Addabbo.

"For every year we don't do it, we lose about a billion dollars to New Jersey, Connecticut, Pennsylvania, and the illegal market," Addabbo told iGaming Business.

The bills propose a 30.5% tax on gross gaming revenue. That is well below New York's 51% sports betting tax but higher than most iGaming states. Pennsylvania taxes slot revenue at 54%, while New Jersey's effective rate sits around 15%.

License fees would run $2 million for existing casino operators and $10 million for independent platforms using their own branding. Up to 31 licenses could be issued: four upstate casinos, three future downstate casinos, three tribal operators, nine VLT racinos, nine online sportsbooks, and three out-of-state bidders.

The New York Hotel and Gaming Trades Council has opposed previous iGaming efforts, arguing online casinos would cannibalize brick-and-mortar revenue and cost union jobs. This year's bill earmarks at least $25 million annually for a fund the council can use for employee training, health programs, and responsible gaming education.

Previous attempts stalled while lawmakers focused on awarding three downstate casino licenses, a process that concluded in late 2025. Gov. Kathy Hochul signed a sweepstakes casino ban in December, which Addabbo has described as a necessary step toward regulated iGaming.

If passed and signed, New York online casinos would not launch immediately. The state took nearly a year to go from legalizing mobile sports betting in April 2021 to launching in January 2022. A similar timeline would put iGaming live in 2027 at the earliest.