Puerto Rico governor introduces sports betting legislation
1 April 2019
(PRESS RELEASE) -- Puerto Rico Governor Ricardo Rosselló today introduced legislation to regulate sports gambling on the island, which is expected to attract visitors and improve the economy for Puerto Ricans. The legislation includes a reorganization with a new public policy in favor of gambling.
Two independent studies have been prepared on the impact that this industry would have in Puerto Rico’s economy. The first study was commissioned by the Chamber of Commerce of Puerto Rico and was prepared by The Innovation Group. This study estimated revenues to the Government at $29 million for 2020, $51 million for 2021, $68 million for 2022, $77 million for 2023 and $87 million for 2024. These projections are based on authorizing sports betting on casinos, racecourse, galleries, horse agencies and online games.
The Government requested Spectrum Gaming Group conduct a market study for bets on legal sports events. This firm estimated that sports bets, both physical and online, could generate between $44 and $62 million annually.
The legislation will make it possible for Puerto Rico to be marketed nationally and internationally as an attractive destination for the millions of people who bet on gambling.
“Our administration is committed to new and creative ways to improve the lives of all Puerto Ricans, especially as we continue our reconstruction in the aftermath of Hurricane Maria,” said Puerto Rico Governor Ricardo Rosselló. “This legislation, made possible by a Supreme Court decision last year, will make Puerto Rico an attractive place to visit, which will greatly benefit our tourism industry.”