WeVote
Log In

Bill

Bill

SD 2419

An Act to encourage capital investment in retail sports wagering facilities

194th Legislature (2025-2026) Introduced by Mike Brady

Allows Category 2 retail sports wagering licensees to satisfy investment requirements by investing at least $7.5 million in a wagering facility instead of paying a license fee.

House concurred
0
WeVote Research Nonpartisan
Bill Summary · SD 2419

Summary of Senate Bill 2419 (S. 2419) – An Act to encourage capital investment in retail sports wagering facilities

Overview

  • Bill number: SD 2419 (Senate Docket No. 2419)
  • Title: An Act to encourage capital investment in retail sports wagering facilities
  • Introduced: January 17, 2025
  • Status: House concurred (latest action); referred to the Committee on Economic Development and Emerging Technologies
  • Purpose: To broaden the methods by which Category 2 retail sports wagering licensees can satisfy certain financial requirements, by permitting a substantial capital investment in a sports wagering facility as an alternative to paying a specific license fee.

Key Provisions

  • Amendment to: Chapter 23N of the General Laws (Section 3)
  • Change to definition: The last clause of the definition of “Category 2 license” is struck and replaced.
  • New option for Category 2 licensees: Instead of paying the fee specified in Section 5(f), a Category 2 licensee may make a capital investment of not less than $7,500,000 in a sports wagering facility.
  • Scope: Applies to Category 2 licensees in the context of Massachusetts retail sports wagering regulations.

Intent and Impact

  • Intent: Encourage greater private capital investment in retail sports wagering facilities by offering a substantial, no-fee alternative that still satisfies regulatory investment requirements.
  • Expected impact:
    • Potentially increases upfront capital deployment in licensed facilities.
    • May influence licensing negotiations and project financing strategies for Category 2 operators.
    • Could affect the timing of fee collections by offering a capital investment option as an alternative to immediate fees.

Affected Parties

  • Category 2 licensees under Massachusetts sports wagering laws (retail facilities/operators seeking or holding Category 2 licenses)
  • Massachusetts Gaming/Regulatory framework (as it interacts with Section 5(f) and related licensing provisions)

Procedural and Timeline Details

  • Filed: January 17, 2025
  • House action: Concurred (February 27, 2025)
  • Subsequent action: Referred to the Committee on Economic Development and Emerging Technologies (February 27, 2025)

Next Steps

  • The Committee on Economic Development and Emerging Technologies will review the bill, possibly propose amendments, and model its impact on licensing and capital investment requirements.
  • If the committee advances the bill, it would proceed through the standard legislative process toward passage and potential enactment into law.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.