Experts believe S5302 could pass in the Senate, but is likely to fail in the New York State Asssembly.
The New York State Senate’s Finance Committee voted in favor of legalizing online poker on Thursday. The bill in question is Senate Bill 5302, which is being sponsored by Sen. John Bonacic. With Thursday’s vote, S5302 is expected to come to the floor of the Senate sometime in the summer deliberations.
State Senator Liz Kruger was the only committee member who voted against the bill. Sen. Kruger believes there should be more hearings on the bill, before a decision is made. The remainder of the Finance Committee believes the full legislature should vote.
Unlikely to Pass in the Assembly
Even if the Bonacic bill passes in the Senate, it is believed the online poker bill does not have a great chance to become law. The buzz in Albany is the State Assembly is unlikely to pass an online poker bill, as there is not a lot of support for such legislation in New York’s lower house.
The next time the State Assembly meets is June 16. That gives little time before Assembly members can be lobbied in anticipation of a vote. S5302 needs a counterpart to John Bonacic in the State Assembly, as a forceful and influential advocate might get the discussion pointed in the right direction.
MGM Resorts Praised New York Senators
MGM Resorts released a statement saying it was pleased to hear New York was prepared to created a “safe, secure and legal environment” for online poker in the state. MGM Resorts this week signed a deal with Boyd Gaming to purchase Boyd’s 50% interest in the Borgata Casino & Resort in Atlantic City.
The Borgata deal comes on the heels of news that MGM Resorts is ready to begin development in earnest of the Wynn Springfield Resort in Western Massachusetts. With those two developments, MGM Resorts is now much more invested in the American northeast. Some believe the Borgata purchase is meant to position MGM Resorts for a North Jersey license, if New Jersey voters pass a November referendum approving two casinos in the Greater New York Metropolitan Area.
While New York lawmakers are considering the legalization and regulation of online poker, they seem to have no interest in legalizing online casinos. In New Jersey, online casinos have been a more lucrative form of Internet gaming, with more than 60% of the revenues generated. The state of New York would have more player liquidity for online poker, so prize pools and the number of card playing options presumably would be much bigger in New York — thus making online poker sites exponentially (and not incrementally) more profitable in New York.
Daily Fantasy Sports in New York
New York’s State Legislature also is consider the passage of daily fantasy sports legislation this summer. Those familiar with lawmakers’ opinions rate a fantasy sports bill to have a higher likelihood of passage than an online poker bill. Some have suggested combining the two forms of gaming together, but that risks losing votes from lawmakers who might support one measure, but not the other.
