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Oddsmakers cry foul over NBA’s proposed ‘integrity fee’

If a federal ban on sports betting is lifted in the coming months, the NBA wants sports books to pay the league 1 percent of the money wagered on its games as an “integrity fee.” An NBA official, assistant general counsel Dan Spillane, made the request in written testimony submitted Wednesday in support of the passage of a sports betting bill at New York’s Senate Racing, Gaming and Wagering Committee hearing. For sports books, the “integrity fee” could be costly. The 1 percent fee amounts to more than 20 percent of sports book revenues, William Hill sports book CEO Joe Asher told the committee. “It’s a red herring when you call it an integrity fee. They want to be partners but they don’t want to appear to be partners. They’re saying they want to protect the integrity of the game by not having bookmaking. Now they want to be part of it. It doesn’t work both ways.” – Vic Salerno, a Las Vegas sports betting pioneer. Prices of straight bets could also be increased in order for sports books to turn a profit. The price on straight bets from the traditional $11 to make $10 could jump to $12 or $13 to make $10. “It has to go up or they can’t make money. I don’t know if they’ll be successful,” he said. “If the tax rate is on the handle, forget it. Kentucky wants 20 percent of the handle. We don’t hold 20 percent. It’s a very thin margin.” – Vic Salerno, a Las Vegas sports betting pioneer.

THE LATEST
Sports on TV in Las Vegas

Here’s today’s local and national sports schedule, including television and radio listings.

THE LATEST
Cadence, Summerlin in top 10 U.S. communities

Led by Cadence in east Henderson at No. 3, Las Vegas had four master-planned communities ranked in the top 50 of the nation, including another top 10 showing for Summerlin.

Lake Las Vegas announces golf cart giveaway winner

Lake Las Vegas has named the winner of its fall golf cart giveaway, an incentive offered to buyers who purchased a new home from a preferred builder during the promotional period.

Pulte’s Brantley opens in Summerlin’s Grand Park village

Brantley by Pulte Homes is the newest neighborhood to open in Summerlin. Located in Grand Park village, Brantley is one of several neighborhoods located near the village’s namesake park, — Grand Park — which will be the largest park in the community upon completion.

REAL ESTATE BRIEFS

Nevada Rural Housing, in partnership with the Nevada Housing Coalition, announced its Keys to the Missing Middle Homeownership Education Program, a statewide initiative designed to help Nevada households prepare for and sustain successful homeownership.