With the fiscal year coming to a close, Pennsylvania lawmakers have still not come to a consensus on expanded gambling. Resolution targeted for mid-July.
Pennsylvania Gov. Tom Wolf has expressed concerns that VGTs might cannibalize revenue from existing gaming buckets. Online gambling may be best alternative.
Thanks to the continued strong performance of table games, the Pennsylvania land-based casino industry only experienced a modest decline.
Online gambling proponents have some reason to cheer, as a gaming reform bill (HB 271) passed through the PA Senate. But we’re not out of the woods yet.
The good news is that there’s been movement on a gaming reform bill in the PA senate, and it includes online gambling. The bad: just about everything else.
Tremendous gains in table games revenue more than offset the continued decline of Pennsylvania’s slot revenue, prompting casinos to slowly shift focus.
If Pennsylvania lawmakers approve an oppressive 54 percent tax rate on online slots, it’s hard to envision a scenario where anyone wins.
If Pennsylvania Goes Forth With An Oppressive Tax Rate On Online Slots, Poker Players Will Suffer Too
Just because a proposed 54 percent tax would only apply to legal PA online slots doesn’t mean that Pennsylvania online poker players wouldn’t be impacted.
It’s shortsighted to think that just because a land-based casino in Pennsylvania has a certain tax rate, that an online gambling property must follow suit.
Thanks to the explosive growth of legal NJ online gambling, it’s becoming more and more difficult for PA legislators to justify passing on its own rollout.