Casino News

Pennsylvania Makes Winning Bet with Gambling Expansion Bill Recently Signed into Law

The casino industry in the U.S. has expanded dramatically. At present, the American casino market can be described as oversaturated and more people started to lose their interest in the conventional land-based casinos. The advent of technologies has significantly changed the casino landscape. People started to use the modern technologies in almost every aspect of life and their gambling hobby is not an exception to the rule. Over the past few years, many online casinos have sprung to life to offer more convenience and better gaming atmosphere. As a result, players were discouraged to leave the comfort of their home and head to the nearby casino facility. To draw back their interest again, many gambling facilities started to add non-gambling entertainments as part of their offers.

It was a hard change for most of the countries around the world to embrace the new gambling trend. However, the countries which took this step are already enjoying the fruits of their work. Speaking of gambling, the fist thing to pop into oneโ€™s mind is Las Vegas’ flashing casinos. Unfortunately, not all U.S. states are as liberal towards gambling as Las Vegas. Two days ago, Pennsylvania became the fourth state to regulate its online gambling industry and revolutionize its gambling law. The state appeared in a financial impasse and the only possible way to climb out of the financial hole was to find an additional source of tax revenues to bridge some of the gaps in the stateโ€™s squeezed coffers. Coming as no surprise, the state started to consider gambling expansion as a way to heal the financial wounds.

Pennsylvania Collects First Million Under Gambling Expansion

Pennsylvania’s gambling expansion bill went through a long and bumpy road, but it finally received a green light. This Monday, Gov. Tom Wolf approved the comprehensive gambling expansion bill, which came into effect immediately. The lawmakers commence work on a legislative package to establish the legal framework for the operation and taxation of the newly-regulated online casinos, poker products, daily fantasy sports, online lottery sales, new satellite casinos and video gaming terminals (VGT).

The good results came only two days later, after Pennsylvania Gaming Control Board announced that Valley Forge Casino Resort has already paid a fee of $1 million to allow people to gamble in the casino, without being obliged to engage in a non-gambling activity. The payment of the fee exempts the state’s two licensed resort casinos from the requirement in the original 2004 casino law to oblige casino visitors to involve in non-gambling activities. Industry insiders are positive that the change in the legal gambling framework is the right cure for Pennsylvania budget deficit.