Despite potential delays until August, lawmakers approved the amended sports betting project in Puerto Rico and cleared the segment to launch.
Puerto Rico.- The sports betting progress in Puerto Rico seemed to have been cut short of legalisation. However, lawmakers reached an agreement and approved the amended piece of legislation.
Lawmakers voted 31-14 in favour of legalising sports betting in the island, which may launch soon. That way, Governor Ricardo Rossello’s proposal finally cleared the General Assembly, but not before some amendments.
The bill creates a Gaming Commission to oversee the segment. Its director was required to have 10 years of experience in the industry, but amendments cut it down to five.
Governor Ricardo Rosselló Nevares filed a proposal to regulate sports betting in Puerto Rico. After the liberalisation in the US, the market seeks to update legislation and launch.
“The industry has the potential to turn Puerto Rico into a leading market. This will allow the segment to establish, which will have a positive effect on the local economy. We’ve been working on aggressive legislation. We aspire to get the island to trade on both national and global levels. We’d be an attractive destination for millions of gamblers worldwide,” Rosselló said. The legislation considers that, only in the US, the market would generate US$3 billion. The proposal was stalled in the past but is finally making it through.