From the 12 Pennsylvania casinos, none have yet submitted applications to become licensed to operate online gambling.
Last October, Governor Tom Wolf (D) signed a huge gambling expansion package that integrated the legalization of internet casinos. Now eight months later, and Keystone State residents nonetheless can’t location a bet from their house or mobile device.
A spokesperson with the Pennsylvania Gambling Manage Board (PGCB) told Online Poker Report lately that no interactive gaming applications have been received.
Pennsylvania wants $10 million per internet gaming authorization. The fee enables casinos to operate web slots and table games (including poker).
Ought to a Pennsylvania casino wish to operate on-line, the state would gather 14 percent of revenue on poker and table games, and 52 % on interactive slots.
Wolf and also the Republican-controlled Common Assembly passed the gambling expansion in part of trying to bridge a state budget funding gap. The legislature assumed $200 million in new annual revenues in the package, which in addition to online gambling includes up to 12 satellite casinos, sports betting, slots inside truck stops and airports, and daily fantasy sports.
Pennsylvania lawmakers bundled slots, poker, and table games together for $10 million using the thinking that the casinos would jump at the opportunity.
After the initial 90-day application period, that will expire next month, casinos will probably be in a position to purchase iGambling applications a la carte, with every category costing $4 million.
In New Jersey, casinos have combined generated $9.38 million in poker rake and charges January via May. That is a nine % year-over-year loss.
Along with on-line casinos, Pennsylvania’s gambling expansion known as for the regulation of sports betting should there be a alter to federal law. That obviously occurred final month when the Supreme Court of the United states of america overturned the longstanding prohibition around the gambling activity.
Using the Professional and Amateur Sports Protection Act (PASPA) now a factor from the previous, Pennsylvania can move forward with figuring out its personal laws on sports betting. The PGCB began accepting sports betting applications on May 31.
Regulatory specifics are nonetheless being decided, but casinos have already voiced concerns that whilst they may be willing to pay the one-time $10 million licensing charge for sports gambling, the 34 % tax on net revenues is far as well high.
Steve Crawford, a lobbyist that works on behalf of 3 Pennsylvania casinos, told The Patriot-News last week, “There’s no secret that we think the tax rate is as well high. We would prefer to see it lowered.”
Pennsylvania’s final regulatory law governing sports betting is expected to allow remote bets to be placed inside state borders.
New Jersey, the state that successfully convinced the Supreme Court that PASPA was unconstitutional, taxes sports betting at eight.5 % for in-person bets, and 13 percent for online/mobile wagers. Nevada, the state that lost its full-fledged sports betting monopoly through the Supreme Court repeal, taxes sports wagering income at 6.75 %.
Sports Handle founder Brett Smiley called Pennsylvania’s sports betting proposal “absolutely ludicrous.” He added, “I would be shocked if there are not conversations taking place at this time between casino operators and also the state to lower that tax.”