summary
Introduced
02/05/2025
02/05/2025
In Committee
03/21/2025
03/21/2025
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Sports Wagering Act. Provides that, if a public entity that owns a sports facility does not apply for a master sports wagering license, a professional sports team that (i) plays the majority of its home contests at the sports facility and (ii) has received written authorization from the public entity may apply to the Illinois Gaming Board for a master sports wagering license in place of the public entity and shall be deemed to be a sports facility for the purposes of the Act. Requires a professional sports team granted a license under the provisions to operate through a designee. Sets the initial license fee for a master sports wagering license for a professional sports team at $1,000,000, but adjusts the amount 12 months after the professional sports team licensee begins sportsbook operations based on 5% of its handle from the first 12 months of sportsbook operations. Provides that the master sports wagering license is valid for 4 years. Allows the Board to adopt rules necessary to implement the provisions.
AI Summary
This bill amends the Sports Wagering Act to allow professional sports teams to apply for a master sports wagering license under specific circumstances. If a public entity that owns a sports facility does not apply for a master sports wagering license, a professional sports team that plays the majority of its home games at that facility and has received written authorization from the public entity may apply for the license in place of the public entity. The professional sports team must operate through a designee, who will be treated as the sports facility owner for all purposes under the Act. The initial license fee is set at $1,000,000, with the amount to be adjusted after 12 months based on 5% of the team's sportsbook handle during that period. The master sports wagering license will be valid for 4 years, and the Illinois Gaming Board is authorized to adopt rules necessary to implement these provisions. This bill provides an alternative pathway for sports teams to enter the sports wagering market when the public facility owner chooses not to do so.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Rule 19(a) / Re-referred to Rules Committee (on 03/21/2025)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2761&GAID=18&DocTypeID=HB&SessionID=114&GA=104 |
| BillText | https://www.ilga.gov/legislation/104/HB/10400HB2761.htm |
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