The New York Senate has unveiled its budget proposal for the upcoming fiscal year.
Included in the Senate’s $160 billion FY 2017/2018 budget is the legalization of online poker. This activity would bring in a large chunk of revenue in Year 1 thanks to the hefty upfront $10 million licensing fees.
Online poker’s inclusion in the Senate’s budget is the latest in a string of positive signals dating back to 2016:
However, the signal isn’t crystal clear. There is also some noise coming through:
The Senate is expected to pass its budget tomorrow. From there it will be a matter of convincing the Assembly to agree to add online poker to the budget over the next couple of weeks.
— Sara Friedman (@SaraEFriedman) March 14, 2017
Based on the timeline, it’s safe to say the legislature is in the lightning round when it comes to passing a budget. Because of this, online poker could be a casualty of the legislature’s lack of time.
The good news is that even if online poker is out of the budget, legislation can be passed a standalone proposal down the road.