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Missouri Passes DFS Regulatory Bill
Wednesday May 11,2016 : MISSOURI SENATE PASSES DAILY FANTASY SPORTS REGULATORY BILL (Update)
But the measure needs to revert to the House on an annual fee difference.
Missouri Senate Minority Leader Sen. Joe Keaveny's bid to regulate intrastate daily fantasy sports succeeding in the state Senate Tuesday, passing on a vote of 20 vs. 10.
However a difference over annual fees with the original House bill means that the measure must revert to the House for resolution.
Keaveney's Senate bill limits daily fantasy sports participation to those at least 18 years old and would give the state Gaming Commission oversight.
Operators would be required to pay an annual operating fee of 11.5 percent of a site’s net revenue, along with the annual licensing fee of $10,000 or 10 percent of net revenue, whichever is lower.
The annual fee proposed by the Senate is higher than that in the House bill, which requires a payment of just $5,000.
The bill faces a procedural deadline of this Friday, May 13.
Sen. Keaveny told lawmakers that the version of the bill passed Tuesday represents a compromise with Gov. Jay Nixon and daily fantasy sports companies.
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