An Act Requiring An Application Fee And Registration Fee For Bidders On A Request For Proposals For A Casino Gaming Facility.
The introduction of such high fees could significantly influence the landscape of casino gaming in the state. By raising the financial stakes for bidders, it could deter smaller operators from entering the market, potentially consolidating control among larger, existing entities. The implications of this bill could lead to fewer bids on casino projects, as only well-capitalized companies may find it feasible to participate. This fiscal model could alter the future availability and operation of gaming facilities within the state, thereby affecting local economies and employment opportunities.
House Bill 05116, introduced by Representative Rosario, proposes a requirement for bidders on requests for proposals for casino gaming facilities to pay substantial application and registration fees. Specifically, the bill stipulates a $5 million application fee and a $250,000 registration fee for the fiscal year ending June 30, 2019. This legislative measure aims to impose financial barriers to entry for potential bidders, presumably to ensure that only serious contenders can apply for such significant licenses, thereby increasing government revenue from these fees.
The bill has sparked debates regarding the appropriateness of imposing such high fees for gaming licenses. Critics argue that these financial requirements may disproportionately impact smaller businesses, reducing competition and innovation in the casino industry. Supporters, on the other hand, may contend that these measures are necessary to assure that only capable bidders, equipped to handle the regulatory and financial complexities of running a casino, are allowed to operate in the market. The discussions surrounding the bill reflect broader concerns about economic equity and the accessibility of the gaming sector.