It seems that more and more states are opening their doors to limited forms of gambling. Sports, poker, etc.
What future does this leave for offshore sites ?
What future does this leave for offshore sites ?
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Placing a bet has always been legal, now taking one is also legal iin some states.Comment -
Frank have you been living on the moon the past year lol?Comment -
Cranky!!!!Comment -
Jesus Frank....get out a little moreComment -
The other interesting question is how this will impact Vegas.Comment -
I have not kept up with the legislation.Comment -
It is well known that the sportsbooks are barely a profit center for Vegas. But new laws around the land will have no impact on Vegas. the biggest influence on Vegas is the economy. If people have money to spend they want to take a trip and party. When the VCR cam out way back in the 70's and 80's the movie industry panicked... but it seems people still want to get out to see a movie. People want to go to vegas and always will. I plan to tap Brittany next time I go... after catching the Aerosmith showComment -
What’s it like for Florida? They gonna get sports betting anytime soon?Comment -
Its late so I cannot do a full analysis of if its simply the stock moving with its beta to the overall stock market butttt both Las Vegas Sands and MGM resorts stock are down over 30% in the past year.
I would argue it will have some impact especially for March madness and super bowl time. A good portion of people who would fly out to place bets in Vegas can now go to their local casino for a betting party. The real game changer will occur if CA legalizes sports wagering as I imagine a lot of CA visitors go to Vegas often since its so cheap / closeby / highest disposable income.Comment -
Were illegal?)Comment -
The Latest
Sports Betting Could Be Part of Tribal NegotiationMatthew Kredell
Mar 14, 2019
There is neither a bill nor any proposal, but there is some ray of hope for Florida sports betting to sneak into the state’s short legislative session.
A priority of the legislature is negotiating a new gaming compact with the Seminole tribe. Senate President Bill Galvano tells Legal Sports Report he thinks legal sports betting would be part of any agreement.
“It’s definitely part of the discussion because that opportunity exists and they are as interested in participating in sports betting as other entities here in the state of Florida,” Galvano said.
“We’re not at a point where we have a product agreed upon and know who gets that product, but we’re having those initial discussions and I think it’s something the tribe will want if we resolve this.”
How Florida got into its situation with Seminole
A US District Court judge ruled in favor of the Seminole in 2016, contending that the state breached tribal exclusivity for banked card games by allowing parimutuel facilities to use a “designated player” system as a workaround.
The approximately $350 million gaming payment the tribe makes annually to the state was tied to this exclusivity clause. The agreement reached by then-Gov. Rick Scott for the tribe to continue that payment in return for the state not appealing the decision expires in May.
Galvano was the key legislative negotiator of the 2010 compact with the Seminole. He tasked Sen. Wilton Simpson to meet with Seminole representatives to pursue a new compact.
“Right now, from the state’s standpoint and speaking on behalf of the Senate, what is paramount is to see where we are ultimately with the tribe going forward,” Galvano said.
“If we are able to restabilize that relationship, which provides substantial revenue to our state budget, then the opportunity is there for exploring sports betting in the state of Florida.”
How Florida sports betting could come up
A 60-day Florida legislative session began March 5 and concludes May 3. The deadline for individual lawmakers to introduce new legislation passed following the first day.
However, committees can still introduce bills. Galvano explained the process of how and when the Senate Committee on Industry, Innovation and Technology, chaired by Simpson, might introduce a sports betting bill.
“Either we would have or be on the cusp of an agreement with the Seminole tribe with their understanding of what direction we’re moving with the parimutuel community, not just for sports betting but perhaps tax reduction, hours of operation or complimentary service of beverages,” Galvano said.
Legislature’s power to authorize in question
Complicating matters even further is a constitutional amendment Florida voters passed last November taking away the legislature’s authority to authorize casino gambling expansions in the state.
Marc Dunbar, a government relations and gaming attorney who calls the Seminole a client, told LSR that the only way FL sports betting can be offered without a constitutional amendment is through the tribes or the lottery.
Galvano indicated that the legislature would still attempt to move forward with a sports betting bill if it makes sense within the compact negotiation. He added that he had lawyers review the situation who think a reasonable argument can be made that sports betting doesn’t count as Class III casino gambling under Amendment 3.
“If we get within the red zone on a deal, the governor would engage and we would occupy the role of ratifying the compact, expansion on sports betting and any other changes in the parimutuel sector to come from the legislature,” Galvano said.
“If it were to happen, it’s going to be pretty close to the end of the session before we can get everything lined up.”Comment -
So, do you think there could be a chance that Vegas may one day not be the headquarters anymore ? of the illuminati
may one day be a ghost town ?
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They'll take a hit during buys sportsbetting seasons, super bowl march madness etc cause those groups of guys from the northeast will go to AC PA or another state up here that have legal gambling and save a ton on travel expenses. I know a guy from long island who goes to vegas every year for the first 4 days of the NCAA tourney and they are coming to AC this year cause its a 3 hour drive vs a 3 hour flight which is boatload of savings. By 2030 vegas will bring in half the overall revenue they bring in now across the board.Comment -
Vegas down the road will be very slow as far as spoertsbettingComment -
Looking for 2nd properties is Texas, Tenn, or possible Pennsylvania.Comment
