While many believed that online gambling would be the future of casinos in New York State, it turns out that casino magnates are looking to open at least four more physical casinos inside the state lines in the next couple of years. However, in order to be able to operate these casinos, the corporations that build and run them are likely to pay upwards of $70 million just for the pleasure of being located in New York.
While it is possible that some of the four casinos may pay only $20 million for a license, the location of these new gaming meccas are likely to incur the highest possible fees.
Two of the casinos are looking to build close to New York City and are therefore more likely to pull down the highest license prices. Those wishing to build in the Albany area will pay closer to the average price of $50 million. The farther the casinos are from the Big Apple, the more reasonable their fees are likely to be.
Three casinos have already submitted their proposals for the region, vying for the best spots. A fourth one is expected before the June 30th deadline and before the bidding begins on different sites. The final prices of the licenses will depend on the ultimate location and size of the casino.
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