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Texas sports betting bills on Deck this Week

March 21, 2023 1

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Texas sports betting bills on Deck this Week

Three bills will be heard for the first time in the House of Representatives State Affairs Committee, with two intertwined bills seeking to legalize “destination resorts,” casino gaming, and sports betting, while the third bill seeks to only legalize online sports betting. If approved, the destination resort bill would allow for up to two destination resorts and casino gaming in the Dallas-Fort Worth-Arlington Area, two resorts in the Houston-Woodlands-Sugar Land metropolitan area, one resort in the San Antonio-New Braunfels metropolitan area, one in the Corpus Christi metropolitan area, one in the McAllen-Edinburg-Mission metropolitan area, and one additional resort in an area to be determined at a later time. The online sports betting bill proposes that Texas professional sports teams and racetracks will be able to apply for an online sports betting license, and if awarded one, can partner with up to one online sports betting operator. The online sports betting tax rate will be set at 10% of adjusted gross sports betting revenue, and each license will cost $500,000.

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