SB 5212 earns support of Washington State Labor Council, bipartisan sponsors State Senators Curtis King and Marko Liias
Proposal would create a state-level 10% tax on all gross revenues from sports wagers, would limit legal commercial, land-based sports wagering to cardrooms and racetracks currently licensed in the state
WASHINGTON – Building on its advocacy for a regulated, legal and taxed marketplace for sports betting, Maverick Gaming announced its support for legislation introduced in the 2021 Legislative Session that would allow currently licensed commercial card rooms and race tracks in Washington to offer on-premise sports betting. The legislation represents an opportunity to stabilize jobs and drive revenue following the deep economic slowdown caused by the pandemic. Revenues from local gambling taxes to local jurisdictions is anticipated to increase by at least 35% with the passage of this bill. Details of the bipartisan legislation – SB 5212 sponsored by State Senators Curtis King and Marko Liias (majority floor leader) – include:
Only existing licensed cardrooms and racetracks would be eligible for a sports betting license
Each license (each facility must have its own license) would be charged a $100,000 licensing fee to fully cover the cost of a robust regulatory system focused on public safety and integrity.
A state-level 10% tax would be imposed on the operators on all gross revenues from sports wagers. This tax would be in addition to the taxes already levied at the local level.
Washington State bill will NOT allow:
Betting on collegiate sports events that take place in Washington State or that involve a Washington state team and take place outside of the state would be prohibited.
Betting on electronic sports, high school sports, and competitive video games would be prohibited.
Betting by anyone under the age of 18.
SB 5212 does not change or impact tribal sports betting, and licenses for commercial cardrooms would not be granted before the first tribal compact for sports betting is complete.
The 2020 Legislature first legalized sports betting in Washington by authorizing a system exclusively available to tribal-owned casinos, despite broad public and editorial support for a system that would create new local and state revenue by including private sector cardrooms. Tribes pursuing the ability to offer sports betting are working to finalize gaming compacts and once complete, will be able to offer sports books, likely during 2021.
“2020 was an extraordinarily challenging year for our teammates and all the communities where we operate, but we remain committed to investing in Washington,” said Maverick Gaming CEO and co-founder Eric Persson. “As the 2021 Legislature begins to grapple with the ongoing devastation caused by the pandemic, Maverick Gaming supports SB 5212 because it lays out a modest approach that will generate economic opportunity for our workforce, create approximately 10 new jobs at each of our 19 locations, and help spark pandemic relief efforts by contributing tens of millions of new tax dollars to local and state programs. We are humbled that the legislation already has bipartisan support and we look forward to advocating for this proposal.”
SB 5212 is already earning broad support, with the Washington State Labor Council supporting the legislation because it strengthens job stability and opportunity for people who work as servers, kitchen staff, dealers, security personnel and others. Maverick Gaming is proud to be the largest private sector employer of Teamsters Local 117.
As of November 2020, 25 states and D.C. have legalized sports betting and are poised to realize millions in revenue as a result. In Washington, Maverick Gaming already contributes approximately $13 million annually to the local communities where it operates. There is room for all licensed, regulated gaming operations to be successful, both in the expansive casino resort destinations operated by several tribal nations and within the more modest neighborhood setting of a commercial cardroom.
At the core of Maverick Gaming’s Responsible Gambling approach is its ‘self-exclusion’ policy, which gives self-identified problem gamblers opportunity to avoid risking their wallets and their well-being. Washington has passed a law requiring the State Gambling Commission to finalize a self-exclusion system in 2021, but Maverick Gaming has already implemented centralized self-exclusion statewide, restricting access to problem gamblers in all its card rooms.
About Maverick Gaming:
Maverick Gaming operates 19 card rooms in Washington located from Kirkland to Tukwila to Lakewood to Kennewick as well as the Wendover Nugget, Red Garter Hotel, Red Lion Casino and Gold Country Casino in Nevada, as well as three properties in Colorado. Maverick Gaming currently employs 2,000 team members in Washington State and intends to invest $500 million in licensed card rooms and planned entertainment developments across the state. During the COVID-19 pandemic, 17 Maverick Gaming locations have operated safely outdoors in partnership with the community to uphold public health and safety. Maverick Gaming is a proud employer of Teamsters Local 117 workers at its locations throughout the state as part of its commitment to providing sustainable, family-wage jobs.