Illinois General Assembly - Full Text of HB5092
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Full Text of HB5092  103rd General Assembly

HB5092 103RD GENERAL ASSEMBLY

 


 
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.


LRB103 36799 AWJ 66909 b

 

 

A BILL FOR

 

HB5092LRB103 36799 AWJ 66909 b

1    AN ACT concerning gaming.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Sports Wagering Act is amended by adding
5Section 25-47 as follows:
 
6    (230 ILCS 45/25-47 new)
7    Sec. 25-47. Master sports wagering licensee issued to a
8professional sports team.
9    (a) If a public entity that owns a sports facility does not
10apply for a master sports wagering license, a professional
11sports team that (i) plays the majority of its home contests at
12the sports facility and (ii) has received written
13authorization from the public entity may apply to the Board
14for a master sports wagering license in place of the public
15entity and shall be deemed to be a sports facility for the
16purposes of this Act. A professional sports team granted a
17license under this Section must operate through a designee, as
18defined in subsection (a) of Section 25-40, and the designee
19shall be treated as the owner of the sports facility for all
20purposes under this Act or any rules adopted under the Act.
21    (b) The initial license fee for a master sports wagering
22license for a professional sports team under this Section is
23$1,000,000, but the amount shall be adjusted 12 months after

 

 

HB5092- 2 -LRB103 36799 AWJ 66909 b

1the professional sports team licensee begins sportsbook
2operations based on 5% of its handle from the first 12 months
3of sportsbook operations. The master sports wagering license
4is valid for 4 years.
5    (c) The Board may adopt rules necessary to implement this
6Section.