The Ohio Casino Control Commission (OCCC) is proposing important changes to licensing rules that could have a major impact on the state's growing sports betting industry. Under the proposal, OCCC's executive director would be given discretion to extend the one-year start-up period for licensees on a case-by-case basis.
The proposed changes come as a result of the difficulties local and retail operators are facing in trying to deliver their projects within the current 12-month timeframe. Phantom Fireworks, a Type B operator permitted only stationary operations, considers the current deadline too restrictive. Despite not having a specific location for the bookmaker, the company is moving forward, albeit at a slower pace than expected due to administrative delays.
The OCCC's consideration of this rule change confirms their commitment to supporting the development of a competitive and thriving sports betting market in Ohio. The government regulator launched legal sports betting on January 1, 2022, with an initial deadline for licensees to begin operations by December 31 of that year. This period has already been extended by six months, and a second extension is currently being considered.
Several other Type B licensees, including the Pro Football Hall of Fame, Muirfield Village Golf Club, SPIRE Institute and Lori's Roadhouse, have yet to begin betting operations. Phantom Fireworks, owner of the Youngstown Phantoms hockey league, is also facing administrative hurdles to launch.
In a recent interview with Business Journal Daily, Michael Podolsky, Phantom Fireworks' deputy general counsel, said the company is working with consultants to finalize financial projections. He expressed optimism about the company's progress, but acknowledged that meeting the current deadline would not be possible without the extension.
Meanwhile, in Arkansas, the Racing Regulatory Commission has opened a 30-day window for applications for a fourth casino license. The window, which begins May 13, is for those interested in opening a casino in Pope County. The commission has set a meeting for June 12 to close the application window.
The development follows the state's November 2018 legalization of sports betting, which also allowed casinos at two existing racetracks - Oak Lawn and Southlawn - and two future casinos in Jefferson and Pope counties. Saracen Casino in Jefferson County is one of the beneficiaries of this legislation.
These regulatory changes in Ohio and Arkansas highlight the dynamic development of the American sports betting and casino industry . While regulators and operators adapt to these changes, the emphasis is on creating a balanced and sustainable market that benefits all participants.
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