Last Monday, the Gaming Facility Location Board approved the Request for Applications (RFA) “to Develop and Operate a Gaming Facility in New York State,” formally opens the bidding period for commercial casino applicants.
The Request for Applications (RFA) can be viewed here. Applications for gaming facility licenses will be accepted until June 30, 2014. Applicants will have to pay a nonrefundable $1 million application fee.
Up to four licenses will be awarded in three Upstate zones, meaning one of the regions could get two licensees. Because that could set up competition, the gaming board offered differing license rates. Casino licenses will cost between $20 and $70 million, depending on the region and whether the license is the only one in the region.
The Location Board indicated that it will set a minimum required investment for proposed projects in each of the three Upstate regions after a bidders’ conference in late April.
The RFA also details how applicants must demonstrate local support. Bidders must submit a resolution approved by the local legislative body supporting the application. Bidders can also show local support through area businesses and community groups.
The state is expected to approve up to four licenses for commercial casinos in three Upstate regions some time in the early fall.