A late-hour push to regulate online poker in Massachusetts failed last week, as the Massachusetts House passed their version of the state budget without an online poker amendment attached.
You can find more details regarding the House’s proposed budget for FY 2014 (H.3400) here. Fiscal year 2014 starts on July 1st, 2013.
It was an amendment to that bill (Amendment #365) – filed only weeks ago – that sought seeks to establish a system for regulating online poker in the state. Full text of the amendment here.
Some highlights of the proposed regulations:
- License fee would cost a minimum of $10mm, credited against tax payments.
- Companies must launch online gambling within 30 days of getting a license or face a $25mm penalty.
- A “bad actor” clause restricts companies who accepted bets after passage of the UIGEA.
The Massachusetts House passed their $34mm budget bill late last week.