California kills sports betting bill amid tribal opposition
Legislation now off the table until 2023 as next public voting opportunity is November 2022
California’s betting bill has been stopped in its tracks by senator and sponsor Bill Dodd following a public backlash from local tribes.
Responding to questions, Dodd said it [the bill] established a constitutional right for state card rooms to offer casino tables games that tribal casino operators did not agree with.
Under the state’s constitution, the legislation would have been subject to a public referendum but needed to have passed by June 25 to be included on a ballot this November.
The next available ballot for a revised betting legislation would be November 2022, taking sports wagering off the table in the Golden State for at least the next three years.
The proposed legislation limited betting to tribal casinos and racetracks, although it allowed independent betting operators to provide betting on behalf of a tribe.
Dodd’s bill set out a 10% GGR tax rate for casino sportsbooks and 15% for mobile offerings and racetrack venues.
Betting operator licensing fees were set at $5m, with a subsequent annual payment of $1m for each sportsbook they operated.
Operators would also have been required to pay 1% of GGR to fund problem gambling programs.
William Hill’s share price dropped this morning by 5.4%, with Flutter shares also down 1.4% on the news of the bill’s demise.