Allows professional sports teams to apply for a master sports wagering license if the public entity does not apply.
The Illinois Sports Wagering Act is amended to allow professional sports teams to apply for a master sports wagering license if the public entity that owns the sports facility does not apply. The team must play the majority of its home contests at the facility and have written authorization from the public entity. The initial license fee is $1,000,000, adjusted after 12 months based on 5% of the handle from the first 12 months of operations.
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