Much of the impetus for bringing Caliente Interactive public is the operator\u2019s pursuit of an online sports wagering license in Illinois. That state charges a hefty $20 million for an online\/mobile sports betting permit if the applicant doesn\u2019t have ties to a land-based casino in the state.<\/p>\n
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A merger with Tekkorp would ease that financial burden for Caliente — a hurdle that needs to be addressed. Last December, four companies applied for online-only licenses in Illinois. But Caliente is the only one remaining from that group. Its fate largely hinges on making something work with Tekkorp.<\/p>\n<\/div>\n
Despite the $20 million licensing fee, the allure of Illinois is understandable for operators. The state is, as expected, the sports betting hub of the Midwest and is tussling with the likes of New York, Pennsylvania, and Nevada for the largest monthly handle in the US.<\/p>\n","protected":false},"excerpt":{"rendered":"
Special purpose acquisition company (SPAC) Tekkorp Digital Acquisition (NASDAQ: TEKK) is asking investors to vote in favor of an extension proposal at an upcoming shareholder meeting. That action would give the blank-check firm more time to complete a business combination. The Las Vegas-based SPAC went public two years ago.\u00a0 That’s the time frame in which […]<\/p>\n","protected":false},"author":46,"featured_media":234991,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810],"tags":[81903,81898],"acf":[],"yoast_head":"\n
Tekkorp Digital Needs More Time To Find Business Combination<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n