Governor OK’s internet gaming on Tinian

GOVERNOR Ralph Torres on Tuesday signed a local measure that amends the Revised Tinian Casino Gaming Control Act to add a new provision for internet gaming.

Introduced by Rep. Edwin Aldan, House Local Bill 20-30 is now Tinian Local Law 20-5.

The new local law also amended the casino license fee and tax rate.

The amended sections of the Revised Tinian Casino Gaming Control Act now read:

“(d) The conduct of internet gaming pursuant to a casino license, in accordance with this Act and any other applicable Act, the regulations established by the commission to regulate internet gaining and internet gaming operations and the operating agreement relating to the particular license permitting and the conduct of internet gaming is lawful. Operating internet gaming is conditioned on having a hotel with 300 units and an operational hotel-casino complex and the implementation of a geolocation software limiting internet gaming activities to within intra-island borders of the second senatorial district and between jurisdictions where the conduct of internet gaming is legal.”

The new law also adds new provisions:

“(b) An annual conditional or plenary license fee of $500,000 shall be paid to the commission upon approval of the application, provided that when a casino license is issued less than the period of the 12 months of the financial year ending Sept. 30, the fee shall be calculated on a quarterly basis and paid on the period remaining.

“1) A licensee may opt to pay an annual conditional or plenary license fee of $2 million and waive payment of casino revenue taxes at the stated tax rate.

“2) A licensee may opt to pay an additional annual fee of $300,000 for the operation of internet gaming. The annual internet license fee may be waived for a casino licensee who opts to pay an annual plenary or conditional casino license fee of $2 million but may not waive payment of internet gambling revenue tax.

“(c) A casino licensee shall renew a license upon its expiration by the payment of the annual license fee.

“(3) Casino tax. (d) An internet gambling revenue tax of five percent of gross internet gambling revenue as provided by 1 CMC Section 1402 (c) (4) shall be paid each month by the licensee granted an internet gaming operator license.”

Source: Marianas Variety :

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