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West Virginia files new bill to regulate iGaming

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West Virginia files new bill to regulate iGamingReading Time: 2 minutes

 

West Virginia files a new bill this week for the legalisation of online and land-based sports betting with the regulation of online poker and casino.

A new House Bill 2178 has been introduced by the representatives Shawn Fluharty and Joe Canestraro, which looks to amend the 1931 Code of West Virginia, allowing online gaming for players aged 21 and above. The bill has been referred to the House Judiciary Committee for further scrutiny, after which it will be passed to the House Finance Committee.

As per the bill, video lottery and table games deliver substantial benefits to the state by providing financial support to West Virginia’s racing and agricultural industries.

“Developments in technology and recent legal decisions have created an opportunity to legalize interactive poker as a means to further enhance and complement the benefits delivered by casino gaming and licensed facilities to or for the benefit of the communities in which they operate,” it explains.

Regulation for iGaming will be entrusted to the West Virginia Lottery Commission, with only authorised gaming facilities and entities that have been granted racing licences from the state Racing Commission will be eligible for certification.

According to this, only five venues would be able to apply for iGaming licences: Penn National’s Hollywood Casino, Eldorado Resorts’ Mountaineer Casino, Racetrack and Resort; Delaware North’s Mardi Gras and Wheeling Island venues, and Casino Club.

Licence fee is $50,000, and 14 per cent gross gaming revenue tax has to be paid by each applicant. None would be allowed to offer third party skins under their licence.

Strict penalties are also set along with the proposal for unlicensed gambling, with first-time offenders liable to be hit with a fine of up to $150,000, and a year in prison. Second offenders see the maximum fine jump to $300,000, with the potential prison term raised to three years.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: West Virginia files new bill to regulate iGaming

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Mobile Betting Bill Fails to Progress Through New York Assembly

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Mobile Betting Bill Fails to Progress Through New York AssemblyReading Time: 1 minute

 

Senator Joseph Addabbo’s mobile betting bill has failed to progress through the New York Assembly. The legislative session saw S17 fail to progress beyond the Assembly Standing Committee on Codes.

Addabbo tweeted that he saw no clear reason why the state could not implement mobile sports betting in 2019. Failure to do so would see the state miss out on around $75m in revenue, funding for education, and both job creation and retention.

“NY will be stuck like a disabled car on the shoulder, while we allow an illegal sports betting business in our state thrive and idly watch other neighboring states pass us up with enormous revenue gains from mobile sports betting,” Addabbo said.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Mobile Betting Bill Fails to Progress Through New York Assembly

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Eldorado Resorts to Buy Caesars Entertainment Corp

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Eldorado Resorts to Buy Caesars Entertainment CorpReading Time: 1 minute

 

Eldorado Resorts Inc., the US based casino operator, has agreed to merge with Caesars Entertainment Corp through a $17.3 billion cash and stock deal.

The deal, which is expected to be announced soon, values Caesars at close to $13 a share. The combined company’s ownership would be split roughly between Eldorado and Caesars shareholders.

An Eldorado spokesman said the company did not comment on rumours or speculation. Caesars did not immediately respond to requests for comment.

The combination of the two companies would create a serious competitor to larger casino industry players, such as Las Vegas Sands Corp, Wynn Resorts Ltd and MGM Resorts International.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Eldorado Resorts to Buy Caesars Entertainment Corp

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Nagasaki Governor Reaffirms His Support for Sasebo IR Bid

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Nagasaki Governor Reaffirms His Support for Sasebo IR BidReading Time: 1 minute

 

Nagasaki Governor Hodo Nakamura has reaffirmed his support for the Sasebo IR bid and urged the national government not to delay too much in issuing its IR regulations and establishing the national regulatory framework.

While Sasebo’s bid is not linked to a specific timeline, the local government does wish to move forward quickly, especially now that other competing bids could emerge from the Kyushu region.

In related news, Nagasaki IR Business Connect Seminar is going to be held with the participation of international operators and investment groups.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Nagasaki Governor Reaffirms His Support for Sasebo IR Bid

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