Rush hour traffic on Tobin bridge (aka Mystic River bride) heading towards Zakim bridge and Boston skyline at sunset.
On June 23, Massachusetts lawmakers will consider a significant policy change by debating the legalization of online casinos. In order to bring online casinos into compliance with current sports betting regulations, proposed bills specify licensing guidelines, tax rates, and oversight.
On June 23, Massachusetts lawmakers will debate whether to authorize internet casinos, marking a policy reversal in a state that has previously legalized online sports betting but not online casino games.
Both pieces of legislation propose two types of licenses. Category 1 licenses would allow the state’s three current casinos to partner with up to two online gaming platform providers. Each measure would authorize the issue of up to four Category 2 licenses, allowing internet casinos to operate independently of land-based casinos.
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In addition to a one-time $5 million charge, operator licenses would have a five-year lifetime and need renewal payments at the conclusion of each licensing period. 20% of gaming earnings would be subject to taxation, which is the same amount that online sportsbooks would pay and less than the 25% tax that retail casino operators must pay.
By contrast, retail sportsbooks in Massachusetts are subject to a 15% tax.
Jordan Maynard, the chairman of the Massachusetts Gaming Commission, has backed policies that will benefit the sector. After acting as temporary chairman since August 2022, Maynard was appointed chairman of the MGC in late 2023. He has advocated for strong regulatory frameworks to support sector growth.
Courtesy: https://www.covers.com, https://www.casino.org, https://pechanga.net
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