Maryland Lottery and Gaming Control Commission Advances 10 Online/Mobile Sports Betting License Applications | White and Williams LLP | Techy Kings

[ad_1]

Thursday, 2022 On October 27th, the Maryland Lottery and Gaming Control Commission (MLGCC) announced that it has extended license applications to the following 10 online/mobile sports betting operators:

  • American betting
  • Bar chair
  • Betfred
  • BetMGM
  • But Rivers/Rush Street
  • Draft Kings
  • Fanatics
  • Fan Duel / Betting Fair
  • Parx Interactive
  • Points But

In issuing license applications to these operators, the MLGCC essentially certifies that the operators have completed the necessary background checks on their “honesty, integrity, good character and financial fitness to obtain a sports betting license.” MLGCC’s decision to advance operator license applications is another step forward in the multi-step mobile sports betting licensing process involving three administrative agencies: MLGCC, the Sports Wagering Application Review Commission (SWARC) and the Maryland Lottery and Gaming Control Agency. Agency). MLGCC’s solution is as follows no equals final approval.

Now that the MLGCC has extended license applications to the aforementioned 10 operators, they will move on to the next stage of the process where SWARC will assess the operators’ “suitability” to determine whether it is in the “public interest” to grant them a license. . During the process, SWARC will examine each operator’s business and marketing plans, as well as their corporate ownership structure.

SWARC-approved applicants will then proceed to the final stage of the licensing process, where they will appear before the Agency and perform a controlled demonstration of their online/mobile sports betting software to ensure that their systems and internal control procedures are working properly. Once the operators have passed the “controlled demonstration phase”, the Agency will start issuing mobile sports betting licenses and announce the official “launch” date.

While state regulators have not committed to a timeline, industry watchers predict the above process could take three to six weeks, meaning the agency could start issuing final licenses as early as 2022. mid or late November.

[View source.]

[ad_2]

Source link