The legal sports betting business is tough and not every operator will survive. On Thursday, the Massachusetts Gaming Commission approved rules for sportsbooks seeking to exit the business.
business is tough and not every operator will survive. On Thursday, the Massachusetts Gaming Commission approved rules for sportsbooks seeking to exit the business.
“Let's hope we don't see too many of these,” MGC Chair Cathy Judd-Stein said during Thursday’s meeting. Interesting rules being proposed and discussed today by the Massachusetts Gaming Commission around what happens when a licensed sportsbook shuts down in the state. The MGC could, among other things, order an operator to stop taking new bets if they plan to exit the market.The regulation requires a sportsbook operator planning to cease business in Massachusetts to provide notice of that shutdown to regulators in writing at least 90 days before doing so.
The commission heard other states have a “mix” of the rules the MGC ultimately approved but did not appear to have thought a lot about the bankruptcy issue, although they may require a reserve like Massachusetts does.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
ACI Worldwide Settles With States, Financial Regulators Over Inadvertent Mortgage Payment WithdrawalsA 2021 computer testing error allegedly resulted in ACI’s payment-processing platform mistakenly withdrawing more than $2 billion from the accounts of mortgage holders
Baca lebih lajut »
British navy chief says AUKUS submarine project needs 'rat-catchers' not regulatorsThe head of Britain's Royal Navy joined Australia on Tuesday in questioning U.S. bureaucratic hurdles facing the three-country AUKUS project to supply Australia with nuclear-powered submarines.
Baca lebih lajut »
Pennsylvania regulators follow California’s lead, with the same abysmal resultsCalifornia’s rules will soon get still more expensive because Gov. Gavin Newsom has decreed that soon, all new vehicles must be electric.
Baca lebih lajut »
Biden nominates Joshua Levy as permanent Massachusetts U.S. attorneyThe White House announced Wednesday that President Joe Biden intends to nominate Acting U.S. Attorney for Massachusetts Joshua Levy to permanently serve in the position. The U.S. attorney for Massachusetts is the highest ranking federal law enforcement officer in the state.
Baca lebih lajut »
'The math is pretty simple': Advocates testify for child care assistance in MassachusettsThis comes as much of the pandemic-era aid that kept the industry afloat has ended.
Baca lebih lajut »
As home costs soar, Massachusetts governor unveils $4B proposal to build and preserve housingMassachusetts Gov. Maura Healey unveiled a sweeping $4 billion bill Wednesday aimed at creating new homes and making housing more affordable. Healey said the legislation would be the largest housing investment in state history and create tens of thousands of new homes if approved by lawmakers.
Baca lebih lajut »