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Neither bill has created a route to license private online betting. Egypt is pursuing an increasingly punitive enforcement model instead.
The three markets have reached the same point by different routes. Morocco has an incumbent defending its exclusivity through the courts, so far without success.
Tunisia has competing bills to prohibit or regulate online betting, neither of which has advanced. Egypt has relied on enforcement measures.
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Asked by Hall on how Texas should proceed moving forward, York advised that the state should seek an order that would require prediction markets to geofence their platforms from operating statewide. York also prefers the pursuit of litigation against prediction markets in state court, rather than the federal circuit, where state attorney generals have been less successful.
“Prediction markets think they can mess with Texas,” York said. “I hope you prove them wrong.”
In response, DeNault noted that prediction markets regulated on the federal level by the CFTC offer a “safer alternative” than many offshore operators that lack the requisite consumer protections.
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At one point, the IGB ordered a temporary work stoppage at Bally’s permanent casino following reports of alleged ties between an unapproved dumpster service with organised crime.
Bally’s has been granted two years’ worth of extensions for the permanent project. State law allows for two-year temporary licences, but the Illinois Gaming Board approved an extension to three years in 2023. That pushed the deadline to this September, but Bally’s ultimately received another year’s worth of extensions through language included in the state’s omnibus revenue bill that was passed in June.
If the latest extension had not been granted, Bally’s would have had to close its temporary casino at Medinah Temple until the permanent venue was completed. That would have resulted in multiple months with no revenue in the market, but Kim told iGB at the East Coast Gaming Congress in April that a closure of the temporary site was “not the end of the world”.