After a long legislative road, Pennsylvania Gov. Tom Wolf signed the massive gambling expansion bill into law on Oct. 30, 2017. The bill greenlit an avalanche of new gaming, including online lottery, casino, and poker, Keno, VGTs, and mini-casinos. It also set up the potential for PA sports betting should the federal law change.
With so many different verticals, the potential for what the industry could bring in was high. However, there were elements of the law that had people concerned about revenue and other issues from the jump.
The tax rates, which came in at 54% for online slots, 34% for sports betting, and 16% for table games were some of the highest in the nation. Many thought they were prohibitively high and could stunt the industry before it started. Ditto the large licensing fees.
The credit agency Moodys even went on record with a credit downgrade on the state post gambling expansion.
