Kathy Hochul vetoes bill to speed up NYC casino bids

In New York, Governor Kathy Hochul has vetoed a bill designed to accelerate the casino bidding process, which was passed by lawmakers in June. The legislation would have mandated potential casino bidders to submit proposals by August 2024, even in the absence of local zoning approvals. Hochul argued that altering the timeline would disrupt established processes agreed upon in the 2022 state budget, emphasizing the need for compliance with local government regulations. The veto, viewed as a 'pocket veto', comes as the state prepares to authorize up to three downstate casino licenses by the end of 2025, with future projections suggesting substantial revenue from these licenses.