Bill > SB557

This bill amends Maryland law to redefine the term "own" for the purposes of regulating video lottery facilities and sports wagering, specifically excluding certain non-voting ownership interests from being considered as "owning" a stake in an applicant or licensee under specific conditions. Previously, "own" generally meant having at least a 5% beneficial or proprietary interest in a business. This bill introduces an exception, stating that an interest of 25% or less will not be considered "owning" if it does not grant any voting rights and is held either directly by a person or in a trust where the trustee does not exercise voting rights or control over the applicant or licensee. This change aims to clarify ownership structures and potentially encourage investment by allowing individuals or entities to hold minority, non-controlling stakes without triggering certain regulatory requirements.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0557?ys=2026RS