V2-160519772Client: Rivers Casino 

Source: Crain’s Chicago Business 

 

Sen. Antonio Munoz (D-Chicago), who voted in favor of legislation to regulate and legalize daily fantasy sports, filed a motion to reconsider. The bill will be in a holding pattern until it is addressed when the Senate returns to session on Monday:

“Kip Kolkmeier, a lobbyist on behalf of Rivers Casino owner Midwest Gaming & Entertainment, warned lawmakers at today’s committee hearing that the regulatory costs could potentially outweigh the revenue to the state and said the bill would amount to a subsidy for companies like FanDuel and DraftKings.

Raoul discounted that notion and cited “indications from around the country” where other states are considering daily fantasy sports legislation that regulatory costs would be between $100,000 and $200,000.

LEVEL PLAYING FIELD

Midwest Gaming and other casinos have also spoken out against the bill because it would allow daily fantasy sports companies to operate paid games while being vetted—whereas casinos face extensive background checks before they’re allowed to do business.

More important, daily fantasy sports have already been deemed illegal gambling in an advisory opinion issued late last year by Attorney General Lisa Madigan.

“This opens up internet gambling, and you’re doing it for a small segment of the internet gambling dollar and doing it for people who have been operating contrary to the current criminal code of Illinois,” Kolkmeier said.”

 

Crain’s Chicago Business, “Senate pushes through daily fantasy sports bill—then puts on brakes,” May 18, 2016