Duane Morris partner Christopher Soriano of the Cherry Hill office appeared on a recent broadcast of the ESPN In the Gate podcast, speaking about the future of horse race wagering. Mr. Soriano’s segment starts at about the 15 minute mark.
Duane Morris Hosts “High-Stakes Games: Betting on Sports” Roundtable
Duane Morris, the Sports Business and Leadership Association and the Sports Lawyers Association will be hosting the roundtable discussion, “High-Stakes Games: Betting on Sports,” on Thursday, January 26, 2017 in Miami, Florida. This in-depth roundtable discussion will focus on the key issues and high stakes of sports betting and will feature sports and gaming industry executives, lawyers and pro-team executives. Duane Morris partner Christopher L. Soriano, of the firm’s Cherry Hill office, will moderate the discussion.
Featured Speakers:
- Eric Frank, Director, Legal Affairs, Amaya
- Myles Pistorius, Senior Vice President and General Counsel, Miami Dolphins
Topics to be discussed include:
- The current state of sports betting in the United States
- New developments in gaming law
- The pro team’s view on expanding sports betting
- Online and offshore wagering on games
Duane Morris Sports Practice AdvantageSM
Duane Morris attorneys have extensive experience representing clients doing business in sports. Whether pursuing new opportunities or investments, enforcing contracts or agreements or protecting clients’ rights, the firm’s lawyers understand the unique issues presented by operating in the industry, including the importance of establishing and maintaining relationships, controlling sensitive information, maintaining privacy and confidentiality and achieving goals in tight time frames.
About the Sports Business and Leadership Association
The Sports Business and Leadership Association (“SBLA”) is a non-profit charitable organization whose members are professionals working in the sports business industry. The SBLA’s core mission is to organize an affinity group of legal professionals working in the sports business industry and to educate them on trending sports business issues and concerns. The SBLA’s goal is to raise money to provide underprivileged children with the financial means to attend a summer sports camp at a university (the “SBLA Scholarship Program”).
About the Sports Lawyers Association
The Sports Lawyers Association (SLA) is a nonprofit, international, professional organization whose common goal is the understanding, advancement and ethical practice of sports law. There are more than 1,000 current members: practicing lawyers, law educators, law students and other professionals with an interest in law relating to professional and amateur sports.
Duane Morris Attorneys Christopher Soriano and Adam Berger to present at NJ State Bar Webinar
Duane Morris attorneys Christopher Soriano and Adam Berger of the firm’s Cherry Hill office will present a webinar, “2016: A Year to Hold’em or Fold’em,” hosted by the NJ State Bar on December 9, 2016. The webinar will offer retrospective on this year’s key legal issues in the gaming industry.
Topics to be discussed include:
- The recent decision shooting down sports betting in casinos
- Impact of the North Jersey gaming referendum on the future of the racing industry and on the Atlantic City casino market
- Online gaming developments
- Fantasy sports legislation/regulation
- Issues surrounding the potential closing of Monmouth Racetrack
To register for the webinar, please visit the NJSBA website.
Duane Morris Attorney Adam Berger Named to Global Gaming Business’ “40 Under 40” List
Duane Morris Adam Berger, an associate in the firm’s Cherry Hill office, has been named to Global Gaming Business magazine’s “40 Under 40” list for 2017. Mr. Berger was chosen by the GGB Advisory Board for this recognition, and the feature will run in the November issue of the magazine.
Pennsylvania Assembly Passes Sweeping Expansion of Gambling
On June 22, 2016 the Pennsylvania General Assembly passed a sweeping expansion of gambling . The bill, which must be passed by the state’s Senate and signed by the Governor, would allow for internet based gambling, daily fantasy sports, slot machines at off-track betting parlors (“OTBs”), slot machines at airports and even paves the way for legalized sports betting, if, and when that is allowed under federal law.
Internet Gambling
- Pennsylvania would be the fourth state to allow legal internet gambling (Internet gambling is currently legal in New Jersey, Delaware and Nevada);
- Internet gambling would be offered through the Commonwealth’s current, licensed casinos with each casino paying an $8 million license fee to offer internet gaming;
- Age and geo-location controls will be required – players must open an account, be 21 or over and must be located within PA while participating in internet gambling;
- The tax rate on internet gambling revenue would total 16%;
- Participating casinos would not be allowed to reduce their number of slots machines their existing b casinos
Daily Fantasy Sports
- Bill allows current DFA operators like FanDuel and Draft Kings to obtain a license to offer DFS without partnering with a PA casino; DFS operators would pay 5% of its revenues ( after player payouts) to the state;
- DFS players must be 18 yo or older;
Slots at OTBs
- PA’s 5 racetrack casinos would each be permitted to have up to 4 off-track betting parlors with up to 250 slot machines per OTB;
- Each such OTB must be outside a 50 mile radius of an established PA casino;
- There is a $5 million licensee fee for each OTB with slots;
Slots at Airports
- Casinos can seek permission to install slot machines at airports; the PA Gaming Control Bd can set limits on the number of slot machines l allowed;
- License fees for such operations would be $5 million in Philadelphia; $2.5 million in Pittsburgh; and $1 million a each at the four other international airports in PA;
Expansion of Current Resort Casinos
- Current Category III casinos in PA can expand their max slot machines counts from 600 to 850 and table games from 50 to 65;
- There is also a relaxation in the requirement that casino patrons be customers of other amenities;
- If a current Category III casino and all three changes it so would requires $4.5 million is additional license fees.
Sports Wagering
- The bill instructs the PA Gaming Control Bd to develop regulations to allow for sports wagering if, and when the federal government permits such sport betting
Duane Morris Attorney Adam Berger Presented on Daily Fantasy Sports at Jeffrey S. Moorad Sports Law Journal Symposium
Duane Morris associate Adam Berger of the firm’s Cherry Hill office spoke at the 2016 Jeffrey S. Moorad Sports Law Journal Symposium, held earlier this month in Villanova, Pennsylvania. Mr. Berger participated in a panel discussion on “Daily Fantasy Sports: A Legal View.” This year’s symposium, A Changing Game: Challenging the Status Quo in Sports Law, analyzed the hard-hitting legal and business issues in sports today.
Daily fantasy sports—a hot-button issue from a legal, regulatory and business perspective—was the headline topic for the roster of industry leaders. The discussion also included the evolution of the NCAA’s legal and business landscape and a view of pro sports from one of the nation’s top agents and a two-time Super Bowl champion.
To view the Sports Law Symposium program, please visit YouTube.com.
Can You Get Busted for Your Bracket? Duane Morris Partner Christopher Soriano on Office Pools, Fantasy Sports and All Things Gaming Law
Duane Morris partner Christopher Soriano of the firm’s Cherry Hill office appeared on a recent broadcast of the “Wagner & Winick on the Law” radio program, during which he joined co-hosts Dean Mitchel Winick and Professor Stephen Wagner, both of Monterey College of Law, to discuss the interplay of federal and state laws in the United States related to regulating gambling and how many of these laws are outdated. A sampling of the topics discussed include Internet gaming, office brackets, fantasy sports, casinos and the lottery.
Within the context of the NCAA March Madness Tournament, Mr. Soriano provided insights on the gaming law implications of office bracket tournaments, which, as in most instances where people put in money on the results of a sporting event, are illegal for the most part. Mr. Soriano also commented on the developing area of fantasy sports and the important distinction to be drawn between games of skill and games of chance. For example, the traditional season-long fantasy sports contests are considered legal because skill is involved; while daily fantasy contests have been viewed as being illegal games of chance. Therefore, where is the line between when something is a contest of skill and when it is a contest of chance?
To listen to the radio program in its entirety, please visit the Recent Podcasts, Webcasts and Audio section on the Duane Morris website.
Future of North Jersey Casinos Now In Voters’ Hands
On Monday, three-fifths of each house of the New Jersey legislature passed resolutions that will put a question on the ballot in November asking voters if they want to expand casino gaming outside of Atlantic City. As we previously posted here and here, the North Jersey casino proposal will allow for two casinos to be located at least 72 miles from Atlantic City, in separate counties. The minimum investment required for a North Jersey casino will be $1 billion. Current Atlantic City casino owners will be given an exclusive period of 60 days to submit bids for the two North Jersey casino licenses before bidding is opened up broadly. Current owners of Atlantic City casinos may partner with other investors/developers to submit a bid for a North Jersey casino license.
If New Jersey voters pass the referendum in November, the legislature will then need to adopt enabling legislation. This legislation will provide the details for the bidding process and the tax rate for North Jersey casinos. Atlantic City casinos currently pay an effective tax rate of 9.25% on gross gaming revenue. North Jersey casinos likely will be required to pay a significantly higher rate, perhaps in excess of 50%.
We will provide updates as developments occur.
Duane Morris Partner Christopher Soriano Quoted in Law360
Duane Morris partner Christopher Soriano in the firm’s Cherry Hill office was quoted in a February 18, 2016 Law360 article (“3rd Circ. Puts Gambling Ban Constitutionality Back On Table“) detailing the 12-judge Third Circuit panel hearing discussing New Jersey’s efforts to legalize sports betting. This is the third time the appeals court has looked at the issue. Mr. Soriano discussed three possible outcomes: 1) the court could hold that the Professional and Amateur Sports Protection Act (PASPA) is constitutional and N.J.’s partial repeal violates it, resulting in no sports betting; 2) the court could find PASPA constitutional but that the state has complied with the act in its partial repeal, resulting in unregulated sports betting in N.J. casinos and racetracks; or 3) the court could determine that PASPA is unconstitutional and therefore regulated sports betting would be allowed in the state.
Mr. Soriano’s blog post on the hearing can also be found here.
New Jersey Senate and Assembly Reach Compromise on North Jersey Casino Expansion
Under a compromise reached by the New Jersey Senate and Assembly leadership the proposed state Constitutional amendment will be put to a vote in both bodies which would allow two additional casinos in the northern part of the state. Under the compromise current Atlantic City casino license holders would have and inside track and have six months to submit proposals to build the new casinos, and their plans must call for investing at least $1 billion in each facility.
If that criteria isn’t met, those without Atlantic City licenses can bid to build the new North Jersey casinos. They would also be required to invest at least $1 billion for each facility
It appears the proposed amendments will not be voted on in this current legislative session which ends on Tuesday, January 12, 2016 and 12:00 noon, but rather in the new session which begins thereafter. As such both the Assembly and Senate will be required to pass the amended proposal with 3/5th majorities for the proposed amendment to be on the November, 2016 ballot.