New York Governor Kathy Hochul Vetoes Key Casino Legislation

Last week, New York Governor Kathy Hochul vetoed a bill that would have expedited the three casino resort bids downstate. 

Hochul has said that she doesn’t want to be directly involved in determining which companies are chosen for licenses, including slots, table games, and sports betting. 

She added that amending the bidding timeline would be unjust. 

We mentioned her steadfastness in allowing this expedited process to happen in September. 

Hochul’s Decision

Hochul addressed her reasoning in her veto message. 

“Changing the timeline would likely have the impact of helping certain bidders and hurting others. I cannot support a bill that aims to change the rules in the middle of the process,” Hochul said.

If this bill, Senate Bill 9673A, had been passed, businesses would have been forced to submit applications for licenses by Aug. 31, 2024. 

That date has passed, but the bill included a section prompting the Location Board to expedite its review. 

Hochul is Under Fire

This bill passed in June, but Democrat leaders in New York held off from sending it to Hochul as they believed she’d veto it. 

This comes as Hochul is facing backlash for “congestion pricing” involving the tolls. She initially ordered a pause of the $15 toll to enter Midtown Manhattan before bringing it back to $9. 

She’s also been under fire for seemingly being in cahoots with billionaire Steve Cohen’s bid for a casino at Citi Field, home of the New York Mets. 

In October, there were reports that the 2025 budget under Hochul would include changes to the Uniform Land-Use Reform Process that would make it easier for Cohen to build a resort on the property partially designated as parkland. 

“If you can’t figure out the land-use issues in two years, maybe a casino shouldn’t be there,” said S9673A’s chief sponsor, Sen. Joseph Addabbo, to the New York Post.

Cohen donated $136,700 to Hochul’s 2022 campaign. 

Revisiting the Toll Situation

While the toll went from $15 to $9, and Hochul said this would save people $6, it’s believed this would hurt the state’s ability to fund upgrades to the Subway system. 

Addabbo said expediting this process would immediately bring the state $1.5 billion in cash, as each casino requires a $500k payment. 

With this bill vetoed, the due date for bids is June 27, 2025, and the winner will be announced later next year.