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Some in the casino industry doubt the wisdom of allowing online gambling. Payne, chairman of the House gaming committee, says the state’s need to raise money increases the chances for approval.
We follow the same standards for taste as the daily newspaper. Tom Wolfe proposed numerous tax increases to combat a $2.3 billion state budget deficit, the chairman of the state House’s Gaming Oversight Committee proposed legalizing online gambling and predicted it would raise millions for the state. His bill would limit control of online gambling to existing casinos. Payne also wants to legalize and regulate fantasy-sports betting.
Statewide slot payout rate since July 1: 89.93 percent; for every $100 bet, machines return an average of $89.93
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We moderate comments. We reserve the right to edit a comment that is quoted or excerpted in an article. The actual casino win for its first year of online gambling was $122 million, with the state getting 15 percent of that.
He’s hopeful Pennsylvania or another state will add online gaming this year.
The IRS is taking public comment through June 2.
Katz, who started an interactive online-gambling business while in college, says the Internet has created many new jobs. “What we really need to see is additional states legalizing (online gaming) every single year until we reach critical mass in the United States.”
Rivers: 89.69 percent payout; weekly slot revenue $5.46 million, down from $6.11 million last year
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The online bill is part of an effort to bolster the state’s casino industry. Payne calls his prediction of $120 million in Pennsylvania conservative, noting that the gambling market is 30 percent larger than New Jersey’s. He also notes that the committee’s Democratic co-chairman, Nick Kotik of Coraopolis, is a co-sponsor of the bill, so it’s not a Republican vs. The agency says technological advances since the current level of $1,200 was set nearly 40 years ago might warrant the reduction.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. A few things we won’t tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Casino consultant and former executive Jim Kilby says it doesn’t create jobs and will take jobs away from traditional casinos.
The American Gaming Association, which represents the casino industry, calls the change burdensome, unnecessary and costly – not only for the industry but for governments that rely on gambling taxes. We will make them as carefully and consistently as we can. Proponents predicted New Jersey casinos would see an online market of $200 million to as much as $1 billion a year. In this case, we may fix spelling and punctuation.
Previous online bills have gone nowhere in the Legislature. Less than a week before Gov. Instead, corrections will be made in a blog post or in an article.
Matt Katz, CEO of Central Account Management Systems, which provides payment-processing and player-verification services to online casinos, says government officials should understand that online gambling is an investment that doesn’t pay off immediately.
“When you look at Europe, the growth of a regulated market takes a good three to five years before it really hits its stride, to where the industry is generating a good amount of taxable revenue for the state,” he says.
Pennsylvania’s size, location and budget problems make it ripe for online gambling.
Tax revenue in the three states with online gambling hasn’t met predictions. “We expect Pennsylvania and New York to serve as the states around which all lobbying efforts in that corridor revolve.”
Presque Isle: 89.61 percent; weekly revenue $2.38 million, down from $2.69 million
Statewide slot players’ loss in week ended March 9: $47.75 million, down from $50.73 million in comparable week last year
The idea of legal online gambling in Pennsylvania seems to be gaining momentum.
In February, an international research firm predicted the state would be a focal point for Internet-gambling supporters. Users must be within the state to play online. The GamblingCompliance study predicts that effort will fail.
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A study by GamblingCompliance, which has offices in London and Washington, D.C., estimates eight to 11 states will consider bills this year to authorize or amend Internet-gambling laws.. He can be reached at 412-320-7838 or email@example.com.
High and low payout rates: 90.68 percent at Parx in Philadelphia; 89.16 percent at Penn National near Harrisburg
“People can go broke from the comfort of their bedroom,” he adds.
“Everything in business is about positive momentum,” he says. But these suggestions should be sent via e-mail. Don’t include URLs to Web sites.
Only Nevada, New Jersey and Delaware now allow online gambling; about a dozen states have a form of Internet lottery. Another legislator proposed a poker-only bill .
Meadows: 89.98 percent; weekly revenue $4.13 million, down from $4.78 million
Slot jackpots as low as $600 might have to be reported to the government in the future, according to an Internal Revenue Service proposal. Software pinpoints where players are; identity and age verification are part of setting up betting accounts.
IRS may lower jackpot reporting threshold
Source: Pennsylvania Gaming Control Board
Lady Luck Nemacolin: 90.19 percent payout; weekly revenue $490,347, down from $541,705
Billionaire Sheldon Adelson, whose casinos include the Sands in Bethlehem, backs a federal bill to outlaw online gambling. Democrat proposal.
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“If I have choice of an income-tax increase or additional gaming revenue, I’m taking additional gaming revenue,” he says. To avoid distracting other readers, we won’t publish comments that suggest a correction. Slot players who win a jackpot of $1,200 or more do not get paid until receiving a W-2G form showing the income, which must be reported on the winner’s tax return.
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“We expect Internet-gambling proponents to focus on the populous Northeastern corridor, where Internet and mobile penetration is high and per-capita income is attractive,” the study says. They are either approved or deleted. Licenses would cost $5 million, and the state would get 14 percent of gross online-gaming revenue in taxes. He supports linking online casinos with land-based casinos to help preserve the “massive investments” made in traditional gambling operations.
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