The New York State Gaming Commission’s (NYSGC) Gaming Facility Committee on Monday established the minimum price for each of the three downstate casino licenses to be made available at $500 million.
The members of the committee also established a minimum of $500 million in capital investments for potential licensees ahead of the June 27 deadline for applications to be submitted to the NYSGC. There are expected to be eight bids submitted for the coveted licenses, with three likely to be Manhattan-based proposals.
The meeting itself lasted less than 10 minutes as the committee noted the rules establishing the minimums were published in the state’s register last July 31.
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