Pennsylvania on brink of legalized online gaming
State requires Governor Tom Wolf’s signature to become the fourth state with online gambling
Pennsylvania is on the brink of becoming the fourth state to legalize online gambling after both houses of the state legislature approved a wide-ranging bill.
The legislation, which will now go to Governor Tom Wolf’s desk, permits online casino, poker, lottery, DFS and even sports betting should it be legalized.
To offer online gaming, firms can apply for three licenses for each of slots, table games and poker.
The licences cost $4m each or $10m for all three. The licenses will initially be available for the state’s land-based casinos, before being made available to other entities after 120 days.
Online table games and poker will be both taxed at 14%, plus a 2% local tax, placing them slightly below New Jersey’s 17.5%, but online slots will be taxed at 54%, the same as land-based casino revenues.
Sports betting would be taxed at 36%, while DFS faces 15%.
4/ Bill also highlights now proven fact that DFS lobbyists are wizards. Only product to escape heavy license / tax burden. No local share.
— Chris Grove (@OPReport) October 26, 2017
Not best legislation…some issues w/it…but to see #iGaming cross the finish line in PA after years of hardwork and research feels good!
— Bill Thomas (@billkdr) October 26, 2017
The state has said it hopes to raise $200m for its budget through the package.
Wolf is expected to sign the bill, having been open to gaming reforms.
“Pennsylvania made the right decision today,” said John Pappas, executive director of PPA. “This is a major victory for consumers who, for years, have asked the state to step up and provide meaningful protections. The iGaming law will also help create new growth opportunities for the Commonwealth’s bricks and mortar casinos while providing needed revenue for the state budget.”
Stars Group spokesman Eric Hollreiser said: “We applaud the Pennsylvania Legislature for taking decisive action to legalize online gaming. This is commonsense legislation that will protect consumers, help close Pennsylvania’s budget gap, and make the state more competitive within the regional gaming industry. The Stars Group looks forward to working with Pennsylvania and its gaming regulators and competing in the future marketplace. ”
https://twitter.com/RobertDellaFave/status/923575092331925506
6/ Assuming Wolf signs, I’d bet you see regulated sites live and running by early second half 2018. Much depends on regulatory pace …
— Chris Grove (@OPReport) October 26, 2017