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Missouri Senate passes bill to regulate daily fantasy sports

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Missouri Senate passes bill to regulate daily fantasy sports

JEFFERSON CITY, Mo. (AP) – Missouri senators have passed a bill to regulate daily fantasy sports. Senators passed the bill 20-10 Tuesday. It limits daily fantasy sports to those at least 18 years old and would give the state Gaming Commission oversight. The legislation also would require an annual operating fee of 11.5 percent of […]

Missouri Senate passes bill to regulate daily fantasy sports

JEFFERSON CITY, Mo. (AP) – Missouri senators have passed a bill to regulate daily fantasy sports.

Senators passed the bill 20-10 Tuesday. It limits daily fantasy sports to those at least 18 years old and would give the state Gaming Commission oversight.

The legislation also would require an annual operating fee of 11.5 percent of a site’s net revenue. An annual licensing fee would be $10,000 or 10 percent of net revenue, whichever is lower. The House version only would require a $5,000 annual fee. The changes mean the bill heads back to the House. Lawmakers’ deadline is Friday.

Minority Leader Sen. Joe Keaveny is pushing the measure in the Senate. He says the version of the bill passed Tuesday is a compromise with Gov. Jay Nixon and daily fantasy sports companies.

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