Raynham Park officials presented their plans on Monday for a sportsbook at the former greyhound racetrack that continues to operate as a pari-mutuel facility that simulcasts live horse and dog races from around the country.
(Image: Raynham Park)
Massachusetts' sports betting law created opportunities for pari-mutuel facilities to operate retail sportsbooks.
The Category 2 sports wagering licenses come with a $200K nonrefundable application fee, money that is used to cover the state's regulatory costs in reviewing an application and performing background checks on the company and its key executives and stakeholders.
Sportsbook licenses are renewable at $5 million every five years.
Retail sports betting revenue is also subject to a 15% tax.
2 costs.
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