By January 23, 2018 Read More →

Legalized sports betting bill working its way through West Virginia Legislature

By LINDA HARRIS

NCWV Media

CHARLESTON, W.Va.  — West Virginia has the potential to generate more than $30 million in sports betting revenue in just the first year if the U.S. Supreme Court overturns a 25-year-old statute that prohibits states from legalizing it, supporters say.

Court watchers anticipate SCOTUS will overturn the 1992 Professional and Amateur Sports Protection Act, which bars sports betting in all but the four states — Delaware, Nevada, Montana and Oregon — that had sports betting in place before the law took effect. The court heard arguments in the case, Christie v NCAA, in December.

While no one can be sure how the court will decide, New Jersey has already seen an influx of outside investment in anticipation of the decision. AC OCEAN WALK, for instance, dropped $200 million on the acquisition of the former Revel Casino Hotel in Atlantic City, which it will rebrand as the Ocean Resort Casino. AC Ocean’s plans call for 138,000 square feet of gaming space with 100 table games and 2,200 slot machines, as well as a “best in market” sports book.

Read the entire article: https://www.wvnews.com/statejournal/news/legalized-sports-betting-bill-working-its-way-through-legislature/article_b238e3bc-3774-5974-82c2-00bcef4baf5e.html

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