Pennsylvania the Latest State to Propose Online Gambling Legislation
With two of its neighbouring states (New Jersey and Delaware) already on their way offer legal online gambling, Pennsylvania lawmakers have submitted a proposal to offer legalized online gambling in the State. The proposal calls for the Pennsylvania Gaming Control Board to regulate “licensing, operation of, and responsible participation in internet gaming to ensure that this form of gaming is within the regulatory framework.
The brick and mortar gambling industries of New Jersey and Delaware have already suffered since Pennsylvania introduced casinos, becoming the second largest gambling market in the country.
The gambling bill suggests and application fee of $5 million with a 28% tax rate for operators. Those fees were originally proposed at a licensing fee of $16.7 million and a tax rate of 45% of Gross Gaming Revenue. The proceeds from internet gaming would be split between the Property Tax Relief Fund and the State Lottery Fund.
It is estimated that 16,000 jobs more than $7 billion in tax revenue are provided by Pennsylvania’s gaming industry.