During a recent hearing with the Maryland House Ways and Means Committee, Delegate Vanessa Atterbeary was on hand to tackle the concerns of stakeholders that are opposing the Maryland online casino bills HB 17 and SB 340 which will allow residents to have access to online slot games.
Mark Stewart, EVP of the Cordish Companies, testified in opposition to the bills, stressing that their company has been consistent in their objection towards iGaming in other states such as Pennsylvania. He also noted that the Cordish Companies previously opposed Atterbeary‘s 2024 version of the bill which passed through the House but ultimately fizzled in the Senate.
However, Del. Atterbeary, who is the presiding chair and sponsor of HB 17 and SB 340, questioned Stewart on why Cordish would seek an online casino license if it is against online casinos.
Stewart responded that Cordish Companies stand to make a lot of money if iGaming is legalized,
“We’re a market leader in this state, on the sports betting side we’re partnered with FanDuel and we have nearly 60% of the market. We will do very well but we think Maryland won’t do very well and we know our employees won’t do very well, and that’s why we’re opposed to it,” Stewart added.
“OK, so then we should be put in the legislation that all of the brick-and-mortars get a license except [Maryland] Live!… Maybe that should go in since it’s such a detriment to the state of Maryland. Perhaps that’s what we should do,” Atterbeary retorted.
Maryland Online Casino Bills Paramount for a Safer Environment
Del. Atterbeary stressed the urgency of having HB 17 and SB 340 be passed, as the Free State is lagging behind other U.S. states that have been reaping the benefits of a regulated environment for online casino games,
“At this point, we’re not being left behind,” she said, pointing to other states who have moved iGaming legislation. “We are behind, quite frankly.”
One of the key proponents of HB 17 is imposing a 55% tax to iGaming revenue. Atterbeary said she filed the new version of the bill to capture an existing illegal online gaming market worth $7 billion annually, as well as to help protect players.
In addition, to address possible cannibalization and unemployment concerns expressed by committee members and other concerned parties, HB 17 stipulates that certain proportions of gaming revenue would be dedicated to initiatives such as an employee displacement fund.
Moreover, the Lottery would also be required to publish an annual report on the effects that iGaming has had on any ancillary businesses such as restaurants and bars surrounding physical casinos.
Last Updated on by jonathan r
