After lots of ifs and buts, Pennsylvania House of Representatives finally voted in support of legalization of online gaming and daily fantasy sports within the state and it is being taken as the first step towards regularizing the sports betting including fantasy sports betting in remaining US States. The total number of votes in bill’s favor came out to be 114 against the 85 members who opposed it citing the age old argument while others simply accepted the rising demand of a regulated sports betting market in the state for the sake of providing a legitimated legal atmosphere to the aspiring sports bettors. GAN has also praised the latest consensus in the Pennsylvania House of Representatives’ to approve a bill that could lead to legalization of sport betting along with daily fantasy sports in the US State. Dermot Smurfit, chief executive of GAN, talked about the latest amendment in the state gambling laws and calls it a “significant step in support of continued regulation of internet gaming.
He added, “Passage of this bill into law will allow us to commence real-money internet casino gaming from our enterprise-level internet gaming platform already deployed on-property for Pennsylvania’s largest land-based casino and currently delivering simulated gaming integrated with the property’s reward program in preparation for regulated real-money internet gaming,” Smurfit said.
“We are one of the few European internet gaming companies with significant experience in the US land-based casino industry and we are extremely well positioned to continue with our stated strategy of providing our award-winning internet gaming system for real-money gaming in America’s regulated markets. The anticipated passing of bill HB 2150 will be a very positive development for GAN.”
According to the new regulations, all the aspiring gambling operators would have to pay $8 million upfront for a five-year license along with a renewal fee of $250,000. Likewise, online gambling technology partners are also required to pay $2 million for the license and $100,000 for renewals. Overall, a five-year DFS license would approximately cost $50,000 which is around 7.5% of an operator’s revenue from the previous year hence it is not going to be a cheap license for all the sportsbooks willing to obtain the authorization.
