Legal & Regulatory News

New York-listed Scientific Games has secured approval for its sports betting partnership with the Oneida Indian Nation in New York, while the state Assembly’s Racing and Wagering Committee approved regulations to govern sports betting.

Scientific Games said Thursday that it has received a favorable response from the National Indian Gaming Commission (NIGC) on its proposed partnership with Oneida, which will see the company provide its OpenSports technology to power the sportsbooks at three Oneida properties - Turning Stone Resort Casino, Yellow Brick Road Casino, and Point Place Casino.

The partnership is subject to the launch of regulated sports betting in New York, with the Assembly Committee on Racing and Wagering approving proposed regulations this week.

A 6113 passed the committee Wednesday by a vote of 8-3 and was referred to the Assembly Codes Committee.

The bill authorises the state’s Indian tribes and four upstate casinos to offer in-person and remote sports betting to players over the age of 21 and mandates the use of official league data for settling bets against a royalty fee of 0.2 per cent of amounts wagered.

Sports betting licenses would attract a one-time fee of $12m, as well as a privilege tax of 8.5 per cent of gross revenue from land-based sports betting and 12 per cent of gross mobile sports betting revenue.

Commenting on the NIGC approval, Oneida Indian Nation representative and Nation Enterprises CEO Ray Halbritter said: “We are proud that we will be among the first Indian nations nationally to offer sports betting, and we appreciate NIGC’s review and approval of our partnership with Scientific Games.

“Our partnership with Scientific Games and SG Digital will give our guests an incredible sports betting experience while providing our properties a strong foundation to grow this market in New York.”

Jordan Levin, group chief executive of SG Digital, added: “We’re making great strides in preparing for the New York market to go live with sports betting, and we’re honored to work with the Oneida Indian Nation to activate our proven sports betting solution.

“Being part of the first sports betting partnership to receive a favourable NIGC determination is a significant milestone that will set both Scientific Games and Oneida up for ongoing success. We look forward to implementing our OpenSports solution for Oneida as we gear up for expansion into New York.”

Shares in Scientific Games Corporation (NSQ:SGMS) closed 0.32 per cent higher at $18.63 per share in New York Thursday.