The provisions of the draft bill
Of course, all is subject to change if and when then the bill is passed. But it’s good to know what many lay in wait, for both casino and players alike.
Licenses will be restricted to land-based casinos who’ll provide the means for online betting companies to operate in the state.
New license holders will need to pay a $200,000 licensing fee to operate within the state and a $100,000 with each year that passes.
This is loose change compared to the amount of $5 million originally put forward, and the startling $10million fee being put before prospective new licensees in Pennsylvania.
It’s hard to discuss the flexibility of where you can and can’t bet from without the final bill before us. But it’s believed there is no clause that says players must be on the premises of a land-based casino to wager. It’s likely Michigan will follow in the footsteps of Pennsylvania in granting complete freedom to bettors.
Will it happen in Motor City?
The desire to add online betting to the gambling options available in Michigan is clearly there and much of the groundwork appears to be in place to force through proceedings. But, still, so much needs to be resolved.
How to deal with the issue surrounding the tribal casinos appears the biggest hurdle to overcome.
Of course, first the process hinges on the state senate. If the Lawful Internet Gaming Act is passed before the end of the year then all systems go.
Do Penn National know something we don’t?
Perhaps the investment of the Greektown Casino-Hotel by Penn National is a strong indicator that the enactment of the law may be indeed be around the corner. They’ve acquired the right to all casino activity at the venue for $300 million, whilst adding another piece to their portfolio.
Penn National is slowly building a healthy quota with a strong presence in Mississippi and casinos ready to roll out sports betting in West Virginia and Pennsylvania when they go live.
The fact they now have a presence in Michigan also will only help drive the push for the law to be passed sooner rather than later.