A suggested modification to the California internet poker legislation seeks to placate the state’s equine racing sector by granting them a substantial share of the earnings produced. Representative Adam Gray’s alteration, AB 431, suggests allocating 95% of the initial $60 million in yearly online poker income to the horse racing business. Nevertheless, racetracks themselves would be prohibited from engaging in the California internet poker market.
This modification would also categorize AB 431 as a time-sensitive statute, implying it would become operational immediately upon receiving the Governor’s signature if it clears both chambers of the California legislature with a supermajority vote.
The suggested levy rate for online poker in California would be 15% of gross gaming income. Gaming establishments with a minimum of five years of expertise and California indigenous groups would be qualified to request permits.
Although California indigenous groups have conceptually consented to a structure of restricted licenses for tribes and card rooms and financing for the horse racing sector, they haven’t yet pledged their complete backing to AB 431. The cutoff date for bills to be presented in the 2016 legislative session is February 19th.