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WASHINGTON STATE POKER BILL MAKING PROGRESS
Friday January 23,2015 : WASHINGTON STATE POKER BILL MAKING PROGRESS (Update)
Rep. Sherry Appleton's HB 1114 evaluated by Office of Financial Management
In a routine move applicable to new legislative proposals in Washington State, the state Office of Financial Management has published its fiscal notes on HB 1114, a measure seeking to legalise intrastate online poker introduced earlier this month by Rep. Sherry Appleton
If successful, Appleton's proposal would reverse an aggressive anti-online poker stance that has characterised Washington state for over a decade.
The OFM appears to have taken a very cautious and conservative view on the projected costs, estimating annual revenue at only $15 million. This estimate is subject to review and amendment as more detailed fees and charges are decided by lawmakers and regulatory advisers.
Implementation will take between 18 and 24 months after passage, the OFM estimates, which would indicate a possible operational launch around August 2017 should HB1114 pass into law.
HB1114 refers only to a "significant" fee to be extracted from prospective operators, which the OFM has refined to a possible $450,000, assuming a percentage of the annual predicted revenue is divided among the three card room networks proposed by the bill. That would work out at around $125,000 upfront and $25,000 a year for each network.
OFM figures predict the cost to the state of relevant testing equipment will be $10,000 in the first year and around $2,000 a year thereafter. Ten new staff positions at the state Gambling Commission would need to be created to cater for regulatory and enforcement activity.
Problem gambling oversight and counselling should be out-sourced, and five percent of fees reserved for this function, the OFM concludes.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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