Pennsylvania Online Gaming and Internet Poker to Go Live July 15
Online gaming and internet poker in Pennsylvania are set to begin in July, with state regulators notifying casino operators of planned launch dates.
Interactive gaming will be allowed on July 15, Kevin O'Toole, executive director of the Pennsylvania Gaming Control Board (PGCB), said in a letter to the state's 13 licensed casino operators.
We know many of you have been working hard to launch interactive gaming," O'Toole said. "Consistent with our commitment at the beginning of this process... the board intends to develop a coordinated timeline for the launch of I-Gaming in Pennsylvania , to maximize similar market access for certificate holders and operators. "
Online gambling and poker were approved as part of the state's gambling expansion plan and signed into law by Gov. Tom Wolf (D) in the fall of 2017. In addition to internet casinos, the plan also legalizes sports betting and daily fantasy sports, as well as authorized satellite casinos, airport gaming lounges and the inclusion of slot machines at certain qualified diesel truck stops.
HIGH FEE
Online gambling has proven valuable to land-based casino operators in various markets. In Atlantic City, online gaming is playing a vital role in the resurgence of Beach Gaming City.
The New Jersey Division of Gaming Enforcement reported that online gaming gross revenue (GGR) totaled more than $298.7 million in 2018, a 21.6% increase from the previous year. Sales of fixed games increased by just four percent.
The financial rewards can be substantial, but in the Keystone State, casino operators must pay upfront. Ten of the state's 13 licensees paid $10 million for the right to offer online slot machines and table games, as well as poker.
The PGCB will tax GGR on online table games at an effective rate of 16%. Internet slot machines are taxed at 54%. Taxes go primarily to the state's property tax relief fund and the Pennsylvania General Fund.
O'Toole said online gaming operators should now submit materials and interactive games to the PGCB laboratory for review.
Mobile Sports Betting
Pennsylvania's first legal sports betting took place last November, but online betting remains offline. That could soon change as internet bookmaker operators become independent of the interactive casino and poker games discussed this week.
The 2017 Sports Betting Act allows licensed operators to accept mobile betting, also for a fee of $10 million per license.
Pennsylvania’s four brick-and-mortar sportsbooks have reported disappointing sales since launching. An Associated Press review found that oddsmakers only realized about half of the profits expected before the market.
Mobile sports betting will be a big help. In New Jersey, approximately 80% of sports betting is conducted over the Internet.
Pennsylvania taxes sports betting revenue at an effective rate of 36%. Thirty-four percent goes to the general fund, with the remaining two percent reserved for appropriations for projects “in the federal public interest.”
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Source: www.casino.org
