Any casino developers and operators bidding for one of the three available downstate New York casino licences will be required to invest at least US$1bn in the project.
The Gaming Facility Location Board of the New York State Gaming Commission approved the minimum development investment of $500m and a $500m licensing fee.
Bids are due June 27, with licences expected to be awarded by the end of the year.
Additionally, zoning and environmental reviews for each proposal need to be finished by September 30.
Source: Fantini Gaming Report
