Monday, 8 October 2018

Pennsylvania Awards First Two Sports Betting Licences to Casinos

The Pennsylvania Gaming Control Board (PGCB) approved the state’s first two sports betting licences.

The PGCB signed off on applications from Penn National’s Hollywood Casino in Grantville, Dauphin County, and Greenwood Gaming’s Park Casino in Bensalem, just outside Philadelphia.

Both casino operators have been given a maximum of 60 days to pay the $10 million fee to facilitate sports betting.

Meanwhile, spokespersons for Park and Penn National revealed that operations won’t be running until renovations to build sportsbooks are fully completed.

According to reports, the PGCB has already received five applications and the remaining three will be considered at the PGCB’s meeting on October 31st with Harrah’s Philadelphia¬†Casino & Racetrack in Chester, SugarHouse Casino in Fishtown and Rivers Casino in Pittsburgh.

The Tax Fees

Pennsylvania authorised sports betting last year with a large gambling expansion package that was signed by state Governor Tom Wolf.

As mentioned above, the state demands a $10 million fee as well as a tax rate of 36%, which has been criticised.

Lobbyists working on behalf of the gambling industry have tried pushing state regulators to change the tax, but they have no interest in doing so.

As of now, only five of Pennsylvania’s 14 licensed casinos have applied for licenses.