Compliance Updates
Governor Kevin Stitt Announces Plan to Introduce Sports Betting in Oklahoma
Governor Kevin Stitt announced his plan to make sports betting a reality in Oklahoma. The Governor’s plan, which would allow Oklahomans to place in-person bets at gaming sites operated by federally recognized tribes, would protect tribal investments in brick-and-mortar facilities.
The plan would also allow Oklahomans to place bets on their mobile devices on a sportsbook licensed by the state. Additionally, the plan protects Oklahoma’s student-athletes by prohibiting prop betting and bets on individual student-athlete performance.
“I promised Oklahomans if we pursued sports betting, we would do it right— and this plan does just that. Thirty-five states have already legalized sports betting, and it’ll be a great revenue stream for the state. Tribes will be able to add it onto their existing infrastructure, and Oklahomans can access it right from their phone,” Governor Stitt said.
The Governor’s plan will prohibit wagers on the individual performance of student-athletes, coaches, referees, player injuries, and prop bets at the college level. With that said, the Governor is actively awaiting input from the NCAA and athletic conferences that impact Oklahoma to see how they choose to regulate the industry.
Mobile wagering will be conducted by organizations licensed by the State of Oklahoma, taxed at a 20% rate, and bets may be accepted from anywhere in the state. An initial licensing fee for participating organizations of $500,000 will be required, in addition to a $100,000 annual fee.
Pursuant to updated tribal gaming compacts, retail wagering can be conducted by federally recognized tribes, taxed at a 15% rate, and bets will only be accepted in person.
The Thai government is exploring the possibility of restricting gambling areas within entertainment complexes to no more than 5% of the total project space. This proposal was revealed by Deputy Finance Minister Julapun Amornvivat, who also chairs the House committee responsible for evaluating the potential establishment of casino resorts in the country.
Amornvivat noted that the allocation of space for gaming activities within these entertainment complexes would be determined based on input from various governmental entities involved in a project.
Last month, Thailand’s cabinet approved a report from the National Assembly committee that examined the feasibility of introducing casino resorts in the country. The Ministry of Finance was tasked with conducting a 30-day study to assess the viability of implementing such a policy.
Each proposed venue would require a minimum investment of THB100 billion ($2.75 billion), according to the committee report. Amornvivat recently requested a two-week extension for the study period to further evaluate the matter in collaboration with 16 other government agencies.
The special House committee’s study focused on three main areas. First, it examined the potential impacts of introducing entertainment complexes with casinos on various aspects of Thai society, including economics, politics, social dynamics and the environment.
Second, the committee analysed the business framework of integrated entertainment venues, exploring revenue generation mechanisms such as taxes, fees and licensing structures. It recommended the implementation of specific casino taxes and the establishment of a fund aimed at addressing the negative effects of gambling activities.
Last, the report highlighted the importance of conducting a comprehensive review of the legal framework governing entertainment venues and gambling laws in Thailand. This effort aims to update existing legislation or develop new laws that align with the evolving societal landscape.
The post Thailand Considers Limiting Gambling Areas to 5% of Total Project Space appeared first on European Gaming Industry News.
iGaming Ontario has welcomed the decision of the Ontario Superior Court, which found that iGaming Ontario’s model is consistent with the Criminal Code and that iGaming Ontario is conducting and managing igaming in the province.
“We have always been confident in our model and are pleased that the court has ruled in our favour, and that Ontarians can continue to play with confidence in our regulated igaming market,” said Martha Otton, Executive Director of iGaming Ontario.
“Ontario’s model meets the requirements and contributes to the public good by protecting players, their data and their funds, while helping to fund priority public services in Ontario, and bringing well-paid, high-tech jobs and economic development to Ontario,” Otton added.
In dismissing the application brought forward by the Mohawk Council of Kahnawà:ke (MCK), the Superior Court found that iGaming Ontario is the “operating mind” behind Ontario’s competitive igaming market in accordance with the conduct and manage requirements of the Criminal Code.
iGaming Ontario will continue to conduct and manage igaming as it has since the launch of the regulated market on April 4, 2022.
Compliance Updates
Supremeland Gaming Continues U.S. Expansion With Supplier License Approval In Michigan
Supremeland Gaming, Inc., the emerging brand in American iGaming, has gained approval for a Supplier License in Michigan, marking the company’s fourth U.S. state approval following the successful acquisition of interim approvals in Pennsylvania, New Jersey, and West Virginia.
Supremeland Gaming is approved to operate under this license and is now authorized to offer its cutting-edge innovation to the Great Lakes State. Their continued expansion underscores its commitment to pushing the boundaries of innovation in the iGaming industry.
Rickard Öhrn, CEO of Supremeland Gaming, said: “With approvals already in Pennsylvania, New Jersey, and West Virginia, our entry into Michigan underscores our dedication to serving players nationwide. We are excited about the opportunities this new market brings and look forward to delivering innovative, engaging, and responsible gaming solutions to the rapidly growing U.S. iGaming community.”
Supremeland’s game portfolio has garnered international appeal since its debut in November 2023. The innovative brand produces first-class games, including Red Panda Rising
and its global debut, Munition Mine, for which its subsidiary, Powderkeg Studios, is shortlisted at the CasinoBeats Game Developer Awards.
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