New York open to expansion of Sports Betting Licenses

iBET ETF Insights: The New York legislature revealed their budget proposals for sports betting and gambling regulation. Lawmakers will now work to determine if downstate casinos will be expedited and if they can add additional sports betting licenses. Lawmakers are required to pass the budget by April 1. Assembly Speaker Carl Heastie said “By and large, the Assembly and Senate majorities appear to be rowing in the same direction when it comes to responding to the executive budget.” Companies like MGM and Resorts World who both have property in New York await further legalization downstate before they can roll out large scale gambling on property.