Bill > HB5812

This bill amends the Sports Wagering Act to authorize a professional women's sports team that has been in existence for at least 10 years to apply for a master sports wagering license from the Illinois Gaming Board. The bill sets the initial license fee at 5% of the team's or its designee's adjusted gross receipts from the previous year, with a maximum of $10 million. The license is valid for 4 years and can be renewed for an additional 4 years with a $1 million fee. The team or its designee can conduct sports wagering at the facility where the team plays or within 5 blocks of it, as well as over the internet or through a mobile app using the team's brand or a brand owned by a direct or indirect holding company that owns at least 80% of the team. The bill also aims to achieve racial, ethnic, and geographic diversity in issuing the license and encourages minority-owned, women-owned, veteran-owned, and disability-owned businesses to apply.