Click Now!

Pennsylvania Considers Online Gambling to Reduce Deficit

Pennsylvania Considers Online Gambling to Reduce Deficit

It has been forecasted that Pennsylvania will have a deficit of $1.4 billion going into fiscal year 2014-15. As a result the state’s lawmakers and its Governor, Tom Corbett, are desperately looking for ways to bring in extra revenue. This is good news for the state’s gamblers as an expansion of lottery gambling is being considered as well as the possibility of legalizing online gambling.

Pennsylvania Considers Online Gambling to Reduce Deficit

Pennsylvania is considering online gambling as a revenue source to help reduce a $1.4 billion deficit.

On Wednesday the Senate Finance Committee will hear arguments for adding keno to the Pennsylvania Lottery game line-up. It is thought that there isn’t much controversy over adding the game, however, there is likely to be some debate over where the game’s proceeds go.

Late last year the Legislative Finance and Budget Committee was tasked with examining the “current condition and future viability of gaming” in the state and to “analyze the potential impact of online gaming on the gaming industry, including the impact online gaming may have on the Commonwealth’s tax revenues and employment at the Commonwealth’s casinos.”

The Committee is due to report back on May 1st which would give lawmakers time to introduce legislation to legalize online gambling before the June 30th deadline for passing the budget.

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