What's new
Streak Gaming Online Gambling Forum

Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

PA Online Gambling Closer To Being A Done Deal ..

Users who viewed this discussion (Total:0)

vixen777

Owner
Staff member
Joined
Jan 14, 2008
Messages
61,181
SOURCE- FULL STORY

The bill — H 271 — contains a number of provisions affecting casinos and gambling law in the state.
But a major piece of the puzzle is the authorization of online gambling. The authorization of PA online casinos —
if the state enacts a law — would be expected to generate hundreds of millions of dollars for the state’s casinos and the state government in the coming years.
The bill also authorizes PA to conduct online lottery games and regulate daily fantasy sports, among other things.
The legislation also aims to fix the local share assessment which had been struck down as unconstitutional last year.
This helps funnel tax revenue from PA casinos to casino host jurisdictions,
More on the specifics of the bill here.

Senate passes online gambling with high tax rate
The bad news for online gambling proponents — and those hoping to realize the highest possible revenue for the state —
is that the bill still contains high taxes and fees for casinos and operators.
Online casino revenue would be taxed at a rate of 54 percent under the bill, the same as the rate for land-based slot machines.
(online poker would be taxed at 16 percent.)
The bill was amended on Wednesday on the Senate floor, but there do not appear to be any material changes affecting iGaming.
The tax rate and license fee structure ($5 million for online poker licenses, $5 million for online casino licenses) remained intact.
There are myriad possible problems with high tax rates, including:
Some operators have said they likely wouldn’t sign up for iGaming if the tax rate is too high.
A high tax rate and fees could ultimately result in less money for the state.
A high rate would likely allow the black market for online gambling in PA to persist.
 

Top