DE HB340

Transfers regulatory authority for interactive fantasy sports contests from a designated agency to the Delaware Division of Gaming Enforcement and establishes the Division of Revenue for tax administration.

Requires criminal background checks and fingerprinting for persons holding 10% or more ownership interest, officers, directors, and ultimate equitable owners of interactive fantasy sports operators seeking registration.

Authorizes the Director to deny, suspend, or revoke operator registrations based on criminal history within 10 years, false statements, prior licensing denials in other states, or failure to comply with regulations; establishes penalty of up to $1,000 per violation.

Establishes licensing fees of $50,000 annually plus a percentage fee equal to 15.5% or the highest rate adopted by another state (whichever is greater) of interactive fantasy sports gross revenue generated within Delaware.

Exempts free-to-play contests and season-long contests with at least 150 underlying competitions from licensing and regulatory requirements; allows administrative expenses to be paid from interactive fantasy sports revenues.