Click Now!

Pennsylvania Gambling Expansion To Take A Year To Implement

Pennsylvania Gambling Expansion To Take A Year To Implement

While the Pennsylvania gambling expansion package that became law last week is good news for gamblers, it could still take at least a year before it is fully implemented. The 970-page bill will lead to the creation of a number of new regulatory gaming markets and add legal complexities to the casino industry.

Online gambling and daily fantasy sports are set to become legal. Additionally, up to five slot machines will be allowed in certain truck stops, gaming lounges will be allowed in some airport terminals and sports betting regulations are to be prepared in case there is a change to the federal ban. Furthermore, 10 satellite casinos with up to 750 slot machines and 30 tables each will be allowed in rural areas at least 25 miles from an existing casino.

The Pennsylvania Gaming Control Board spokesman Doug Harbach has said that it is impossible to put a timetable on the implementation but said that it will take months to get everything in place.

It is hoped that gambling will generate $200 million in extra tax revenue through licensing fees and gross gaming taxes. When everything is in place in one year half of the $200 million will be raised through the satellite casino licensing process with operators able to purchase mini-casino licenses for $7.5 million and an extra $2.5 million for table games.

However, the first step is for municipalities to decide if they want satellite casinos, cities have until the end of the year to pass resolutions banning mini-casinos.

Naturally there is some opposition to the new bill, but with a little more patience, things should greatly improve for gamblers in Pennsylvania.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

COMMENTS

comments