Three more applicants for Pennsylvania online licenses come forward
News on 17 Jul 2018
News on 17 Jul 2018
Penn National, Rivers and Sugarhouse submit $10 million applications.
The Pennsylvania Gaming Control Board has confirmed that three more state casino operators have anted up $10 million each for online gambling licenses, identifying them as Penn National, Rivers and Sugarhouse.
The trio join Mount Airy, Parx and Stadium Casino LLC which submitted applications over the weekend (see previous report).
Observers expect several more last-minute applications will come in, but the Board is unable to provide exact details until later today (Tuesday).
Pennsylvania-based Penn National Gaming spokesman Eric Schippers told local reporters Monday:
“While we remain disappointed with the state’s exorbitantly high tax rate, we have decided to proceed with online gambling in the hope that we can continue to work to bring the tax in line with what other gaming jurisdictions around the world have instituted.
“Simply put, we’ve chosen to have a seat at the table in which we can share with the state our results and continue to educate them on why a competitive tax rate is ultimately a win-win for the state and the operator.”
Our readers will recall that Pennsylvanian lawmakers imposed high fees and taxes on the nascent state online gambling industry, requiring operators to pay the same rates as land casinos of 54 percent of GGR on slots and 16 percent on table games, along with licence fees of up to $12 million.
The success and growth of the New Jersey online gambling market is believed to have motivated Pennsylvania operators to enter the sector despite these disincentives.
