Raynham Mungo Park officials presented their plans on Monday for a sportsbook at the former greyhound track that continues to control as a pari-mutuel readiness that simulcasts live horse and domestic dog races from around the country.
Massachusetts’ sports betting jurisprudence created opportunities for pari-mutuel facilities to control retail sportsbooks. The Category 2 sports wagering licenses add up with a $200K nonrefundable coating fee, money that is used to handle the state’s regulatory costs inward reviewing an application and performing ground checks on the troupe and its tonality executives and stakeholders.
Should the Massachusetts Bay Colony Gaming Commission (MGC) find Raynham Mungo Park suited for a Cat. 2 sports wagering license, the permit would cost $5 1000000 for a five-year duration.
Sportsbook licenses are renewable at $5 one thousand thousand every V years. Retail sports betting revenue is also subject to a 15% tax.
MGC Vote Forthcoming
Raynham Park partnered with Caesars Sportsbook inwards Jan to get sports betting to the former racetrack. Raynham Mungo Park is owned by the Carney family, which hopes to reignite the facility via gambling on pro and most college sports.
George Carney and his boy Chris feature already begun expression on their “mega-sportsbook.” The 30,000-square-foot propose is to include self-service wagering kiosks, a staffed betting counter, a video show wall, dozens of televisions, and food for thought and drinkable options. The facility is to accommodate upward to 2,000 people at a time, which would do it I of the largest sportsbooks inwards the US.
Raynham is located inward Bristol County roughly 30 miles southward of Boston. The caterpillar track is just a myopic parkway from Foxboro where the NFL’s New England Patriots frolic their place games.
The Carneys told tell regulators that expression of the Caesars Sportsbook is on rate to live ready for bettors sometime inwards August. The goal, the owners say, is to feature the sportsbook upward and running in the lead of the NFL and college football game seasons.
The Caesars Sportsbook at Raynham Mungo Park is projected to cost almost $30 million.
The MGC discussed the contrive for virtually half a dozen hours during Monday’s meeting but didn’t voting on issuing the locale a sportsbook license. Raynham Mungo Park is hopeful of soon securing a temporary sports betting yielding that will appropriate the facility to start taking bets, including futures litigate on the NFL.
Massachusetts’ sports betting jurisprudence allows retail sportsbooks to seek temporary wagering privileges for an interim locus piece their lasting properties are constructed. Temporary sports betting licenses cost $1 million, but that money is later applied to the $5 gazillion Cat. 2 costs.
Delayed Consideration
Raynham Mungo Park and Caesars Sportsbook submitted their Category 2 sports wagering practical application in Jan before long after in public confirming their partnership. The MGC delayed reviewing the practical application until it allowed wandering sportsbooks to set in motion in the commonwealth.
Online sportsbooks were precondition the go-ahead by the commonwealth gaming agency inward March. The office then tended to other regulatory matters, including amending how sportsbooks tin can and cannot securities industry their sports betting businesses.
The MGC also reworked its rules on how sportsbooks and affiliates work on to step-up sports betting participation. Under the state’s a la mode(p) rules, sportsbooks aren’t allowed to share revenue with affiliates for directional patrons their way.
But sportsbooks can buoy pay off affiliate sites a matted cost-per-acquisition commission.
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