MGC Public Hearing – December 5, 2023
- November 14, 2023
Notice is hereby provided that in accordance with G.L. c. 30A § 2, the Massachusetts Gaming Commission (“Commission”) will convene a public hearing for purposes of gathering comments, ideas, and information relative to the proposed adoption of regulations. The regulations were promulgated pursuant to G.L. c. 23N § 4, as part of the Commission’s regulatory process, and concern the following regulations:
205 CMR 238.00 – Additional Uniform Standards of Accounting Procedures and Internal Controls for Sports Wagering; Specifically, 205 CMR 238.12: Reserve Requirement. This section of 205 CMR 238.00 is being amended to require that Sports Wagering Operators obtain a letter of credit that is proportional to the portion of its reserve amount that is allocated to unpaid wagers. So, if an Operator does cease operations, there is a mechanism by which patrons can receive funds held by an Operator.
205 CMR 258.00: Sports Wagering Operator Cessation. This regulation establishes procedures and requirements by which Sports Wagering Operators may cease operations within the Commonwealth; either by scaling back their products and offerings, or by ceasing business operations altogether.
Scheduled hearing date and time:
Tuesday, December 5, 2023, at 9:30 AM EST
Given the unprecedented circumstances, Governor Charles Baker issued an order to provide limited relief from certain provisions of the Open Meeting Law to protect the health and safety of the public and individuals interested in attending public meetings during the global Coronavirus pandemic. In keeping with the guidance provided, the Commission will conduct this hearing utilizing remote collaboration technology.
CONFERENCE CALL NUMBER: 1-646-741-5292
PARTICIPANT CODE: 111 611 1516
A complete copy of the draft regulations referenced above may be downloaded by visiting www.massgaming.com, clicking on ‘Regulations and Compliance’ and selecting the ‘Proposed Rulemaking’ Section. Anyone wishing to offer comments on these regulations can email Judith.Young@massgaming.gov and request the virtual hearing link to appear and speak. Alternatively, written comments may also be submitted to the same email address with ‘Regulation Comment’ in the subject line. Comments must be received by 5:00 PM EST on December 4, 2023.