Internet Gambling Included in Pennsylvania State Budget
Lawmakers have made Internet gambling part of the Pennsylvania year’s state budget though few believe any measures would be signed into law in 2014.
The odds are stacking against Web gambling ever becoming legalized in the Keystone State.
PA lawmakers are keeping a close eye out on neighboring New Jersey, which has yet to realize the revenue numbers initially forecast for the sector since legalizing online gambling last November.
Perhaps an even bigger concern, the multi-billionaire owner of one of the state’s most successful casinos in Bethlehem is leading a national lobbying campaign against Internet gambling. That would be one Sheldon Adelson.
A study released earlier this month suggests Pennsylvania casinos could see $180 million in new revenue should online gambling become legal. $68 million of that money would be subject to state taxes. And revenue could ultimately climb to $307 million.
In March, Morgan Stanley lowered its first full year estimate of New Jersey’s Internet gambling revenue from $541 million to $203 million.
“I think there is significant revenue to be gleaned from Internet gaming,” said Drew Crompton, top aide to Senate President Pro Tempore Joseph Scarnati, R-Jefferson County.
The Senate Community Economic and Recreational Development Committee plans a hearing next month to further review the impact of potentially legalizing online gambling in the state.
- Gilbert Horowitz, Gambling911.com
