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NEWS 12 August 2019

Boyd Gaming CEO: I'm offended by the notion of integrity fees

By Matthew Enderby

Boyd Gaming CEO Keith Smith spoke exclusively to Gambling Insider on the proposition of integrity fees and believes they undermine the values of Las Vegas operators.

Elite-level leagues, such as MLB and the NBA, have discussed charging operators 1% of sports betting handle involving their relevant competitions.   

Using a 1% fee and a 5% hold, this could roughly work out to 20% of revenue.

While the leagues have cut their asking price to 0.25%, operators across the US still find this unjustified.

Smith agrees, telling Gambling Insider: "I’m highly opposed and frankly highly offended by the term because integrity fees implies we were operating with a lack of integrity in the past.

"I can tell you we’ve operated sports betting here in Nevada for more than 40 years at a very high level, with very few scandals."

Smith added: "We don’t need integrity fees; we’ve been doing this for a very long time. You don’t see it in the UK, or elsewhere in the world. I am offended by the whole notion."

Smith was speaking to Gambling Insider for the upcoming US CEO Special, due to be published in the September/October edition of the magazine. Click here to read when available.

RELATED TAGS: Land-Based | Industry | Sports Betting | Legal & Regulatory
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