Illionois Introduces New iGaming Legislation To Curb Cannibalization
Legislation has been introduced in the Illinois Senate and House of Representatives with two bills attempting to address fears of casino cannibalization in the state. Senator Cristina Castro introduced SB 1963, which will legalize iGaming, and Representative Edgar González, Jr. brought the companion bill HB 3080 to the House of Representatives. SB 1963 introduced the … Continued The post Illionois Introduces New iGaming Legislation To Curb Cannibalization appeared first on Esports Insider.
Legislation has been introduced in the Illinois Senate and House of Representatives with two bills attempting to address fears of casino cannibalization in the state.
Senator Cristina Castro introduced SB 1963, which will legalize iGaming, and Representative Edgar González, Jr. brought the companion bill HB 3080 to the House of Representatives.
SB 1963 introduced the Internet Gaming Act, which allows legal online casino games in Illinois. License holders can partner with up to three iGaming providers and operators.
The two iGaming bills will tax the online casino games at 25% when adjusted for gross revenue; operators can deduct free play amounts (as well as promos) from said gross revenues within limits.
An iGaming license will cost providers $250,000 with a license renewal fee of $100,000. Also introduced in the bill is a requirement that disallows the Illinois Gaming Control Board from awarding or renewing a license to an organization if its workforce has decreased by 25% (or more) since February 28, 2020.
The minimum age to participate in iGaming in Illinois is 21, and each iGaming platform must include wording specified by the Illinois Gaming Control Board. The platforms must say: “If you or someone you know has a gambling problem, help is available. Call (toll-free telephone number)”.
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