HB5092 103RD GENERAL ASSEMBLY

LRB103 36799 AWJ 66909 b

103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB5092

Introduced 2/8/2024, by Rep. Kimberly Du Buclet

SYNOPSIS AS INTRODUCED:

230 ILCS 45/25-47 new

Amends the Sports Wagering Act. Provides that, if a public entity that owns a sports facility does not apply for a master sports wagering license, a professional sports team that (i) plays the majority of its home contests at the sports facility and (ii) has received written authorization from the public entity may apply to the Illinois Gaming Board for a master sports wagering license in place of the public entity and shall be deemed to be a sports facility for the purposes of the Act. Requires a professional sports team granted a license under the provisions to operate through a designee. Sets the initial license fee for a master sports wagering license for a professional sports team at $1,000,000, but adjusts the amount 12 months after the professional sports team licensee begins sportsbook operations based on 5% of its handle from the first 12 months of sportsbook operations. Provides that the master sports wagering license is valid for 4 years. Allows the Board to adopt rules necessary to implement the provisions.

A BILL FOR

AN ACT concerning gaming.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Sports Wagering Act is amended by adding Section 25-47 as follows:

(230 ILCS 45/25-47 new)

Sec. 25-47. Master sports wagering licensee issued to a professional sports team.

(a) If a public entity that owns a sports facility does not apply for a master sports wagering license, a professional sports team that (i) plays the majority of its home contests at the sports facility and (ii) has received written authorization from the public entity may apply to the Board for a master sports wagering license in place of the public entity and shall be deemed to be a sports facility for the purposes of this Act. A professional sports team granted a license under this Section must operate through a designee, as defined in subsection (a) of Section 25-40, and the designee shall be treated as the owner of the sports facility for all purposes under this Act or any rules adopted under the Act.

(b) The initial license fee for a master sports wagering license for a professional sports team under this Section is $1,000,000, but the amount shall be adjusted 12 months after the professional sports team licensee begins sportsbook operations based on 5% of its handle from the first 12 months of sportsbook operations. The master sports wagering license is valid for 4 years.

(c) The Board may adopt rules necessary to implement this Section.