Online Casinos May Become Legal in Illinois
Cristina Castro, Illinois Senator, has introduced bill SB1656 in another attempt to pass legislation for online casinos in the state. According to CBS Americas, if legislation is approved, casinos and racetracks will get the possibility to apply for an Internet gaming license, which can include up to three skins.
The license, which will cost $250,000, will be regulated by the Illinois Gaming Board. Meanwhile, the bill introduced by the Senator stipulates that the tax rate on adjusted gross revenue would be set at 15%. Still, there will also be an opportunity for promotional credit deduction. In-person registration will not be required for playing at online casinos, despite the fact that it is an obligation in the case of sports betting in Illinois.
Responsible gambling and diversity efforts from the operators’ side are mentioned in the bill. Thus, a self-exclusion list must be established, and responsible gambling information must be displayed on every casino site. Moreover, gambling platforms that will enter the market will need to provide annual reports on their diversity goals and progress.
According to the bill, deadlines for applicants, particularly those with existing interactive gaming licenses, are short. The reason is a negative experience of slow launching processes of Massachusetts and Maryland’s sports betting markets.
Meanwhile, a recent report by Bonus.com reveals that Illinois may legalize online gambling soon, as well as some other states. Clearly, the legalization of online gambling could provide a much-needed revenue stream for the economy severely impacted by the pandemic. So despite the failure of an attempt to pass the Illinois Internet Gaming Act in 2021, the topic may be discussed once again this year.
However, given that video gaming terminals are already generating a substantial amount of tax revenue for the state, the introduction of Internet casino gaming may still face an uphill battle.
In other news, Light & Wonder signs a deal with Atlantic Digital.