New York to Consider $ 10M Licensing Fee for Regulated Online Poker Market

^{Pictured: Senator Joseph Addabbo Jr.}

New York is once again considering the legalization of online poker. The proposal was tabled on May 7th in the state Senate.

The driving force behind the bill is Senator Joseph Addabbo Jr. His vision is to launch a regulated online poker market in New York, offering up to ten licenses at a hefty price tag of $10 million each.

The bill outlines a proposed tax rate for operators, set at 15% of gross gaming revenue (GGR)*.

The exact date for the discussion of Addabbo Jr.’s proposal is yet to be determined. While the state lawmakers are scheduled for a recess on June 6th, the Senate leadership could convene a brief session to discuss various matters, even after the recess has been announced.

Previously, we reported that Sen Addabbo Jr. had proposed the legalization of online casinos in New York.

* GGR is a financial metric used to measure gross earnings, calculated by subtracting total winnings from total bets.