All posts by DuaneMorris3

Illinois Supreme Court Finds Daily Fantasy Sports to Be Legal, Rejects DFS Loser’s Gambling Loss Recovery Act Claim

In Dew-Becker v. Wu, 2020 IL 124472 (April 16, 2020), the Illinois Supreme Court, finally and definitively, has put to rest the question of whether DFS (daily fantasy sports) is unlawful in Illinois. In addition, as a result of the decision, the DFS industry dodged the potential impact of tens of thousands of lawsuits that otherwise could have been lodged against winning DFS players in Illinois by DFS contest losers seeking to recoup their losses under the Illinois Loss Recovery Act (LRA)(720 ILCS 5/28-8).

To read the full text of this Duane Morris Alert, please visit the firm website.

Small Business Administration Updates Interim Regulatory Guidelines to Greatly Expand Accessibility of Paycheck Protection Program Loans to Gaming Businesses

On April 24, 2020, the casino industry received some much-needed good news from the Small Business Administration (SBA). Specifically, the SBA issued revised regulatory guidelines for the CARES Act’s Paycheck Protection Program (PPP) that now make PPP loans available to small gaming businesses previously precluded from the program because of restrictions on gambling-based revenue, but otherwise met the eligibility requirements.

To read the full text of this Duane Morris Alert, please visit the firm website.

Governor Returns Virginia Gambling Legislation with Amendments, Including Tax for COVID-19 Fund

In a  March 17 Alert, we reported that Virginia’s General Assembly had sent Governor Ralph Northam two bills (Senate Bill 36 and House Bill 896), which, if signed, would permit five land-based casinos, online sports betting and up to 2,000 additional historical horse racing machines in the commonwealth. On the April 11 deadline to take action on the bills, Governor Northam returned them, each unsigned, to the Virginia legislature with amendments. While the governor’s proposed changes to the two bills appear minor (for example, they did not change tax rates, minimum capital expenditure requirements or the types of games), a new proposal would further expand gaming in Virginia, at least temporarily, by permitting and taxing skill-based machines in bars, convenience stores and truck stops to raise money for a COVID-19 relief fund.

Update: On April 22, 2020, both chambers of the Virginia General Assembly approved Governor Northam’s amendments to the casino and sports betting bills, thus effectively making both bills Virginia law.

To read the full text of this Duane Morris Alert, please visit the firm website.

Small Business Administration Updates Interim Regulatory Guidelines to Help Certain Gaming Companies

On April 14, 2020, the Small Business Administration (SBA) issued revised interim regulatory guidelines for the Paycheck Protection Program (PPP). The revisions provide, in relevant part, that certain companies which derive revenues from legal gaming activities are eligible for PPP loans and are not automatically ineligible as previously thought pursuant to the interim regulatory guidelines released on April 2, 2020, and discussed in our previous Alert.

To read the full text of this Duane Morris Alert, please visit the firm website.

Interim Regulatory Guidelines Preclude Gaming Businesses from Receiving Support Under the CARES Act Paycheck Protection Program

Much of the U.S. casino industry is currently ineligible to benefit from the Paycheck Protection Program portion of the newly enacted Coronavirus Aid, Relief and Economic Security Act (CARES Act). As articulated by Congress, under the CARES Act, the Paycheck Protection Program provides loans to any small business, nonprofit organization, veterans’ organization, and/or tribal business as long as the business has less than 500 employees. The Paycheck Protection Program is one of several tools to provide much needed support for small businesses and their employees experiencing economic distress caused by the COVID-19 crisis.

To read the full text of this Duane Morris Alert, please visit the firm website.

Massachusetts Sports Wagering Bill Expected to Be Approved by July

From the spate of competing sports betting bills filed since 2019, House Bill 4559 has emerged as the frontrunner and is poised for passage. On March 12, 2020, the Joint Committee on Economic Development and Emerging Technologies submitted H.4559, as amended, to the House Ways and Means Committee with its recommendation for approval. Massachusetts Governor Charlie Baker has expressly supported the authorization of sports betting, which now is expected to pass during the current legislative session.

To read the full text of this Duane Morris Alert, please visit the firm website.

Virginia General Assembly Passes Expansive Gambling Legislation

Legalized casino gambling and sports wagering are approaching the finish line in Virginia following the recent passage of two bills by the Virginia General Assembly. Senate Bill 36 and House Bill 896, both awaiting the signature of Virginia Governor Ralph Northam, would permit five land-based casinos, online sports betting and up to 2,000 additional historical horse racing machines.

To read the full text of this Duane Morris Alert, please visit the firm website.

Virginia Legislature Passes Bills to Expand Gambling in the Commonwealth

Legalized casino gambling and sports wagering are approaching the finish line in Virginia following the recent passage of two bills by the Virginia General Assembly. Senate Bill 36 and House Bill 896, both awaiting the signature of Virginia Governor Ralph Northam, would permit five land-based casinos, online sports betting and up to 2,000 additional historical horse racing machines.

View the full Alert on the Duane Morris LLP website.

Samantha Haggerty Named to South Jersey Biz 20 Under 40 Young Professionals List

Congratulations to Samantha Haggerty on being named to the South Jersey Biz 20 Under 40 Young Professionals List – 20 Young Minds that Are Changing the Way We Do Business.

Samantha L. Haggerty practices in the areas of litigation and gaming law. Ms. Haggerty has represented gaming industry clients in the licensing and regulatory process, including online gaming and sports betting clients. She has assisted with internal investigations of gaming companies and advising clients with respect to compliance and control enhancements. She contributes regularly to the Duane Morris LLP Gaming Law Blog and serves as secretary to the New Jersey State Bar Association’s Casino Law Section.