There is no denying that the casino gambling occurrence is gliding across the US, and there is a main reason why it has nothing to do with revenue.
In Pennsylvania, the revenue potential of expanding the casinos are nearly $700 million annually, estimated $540 million from video poker and $156 million from table games.
In recent years, Pennsylvania has established off-track betting parlors for horse races, hitched the lottery to the multi-state Powerball game, and, in 2004, cleared the way for casino-style gambling with the legalization of slots play.
But Governor Ed Rendell and a number of legislators believe there is more money to be made from gambling.
Governor Ed Rendell would like to permit as many as 5 licensed video poker machines in every bar and tavern in Pennsylvania. He put forward to tax the proceeds to pay for tuition breaks for low- and middle-income students enrolled at state-owned colleges and community colleges.
A bill proposing the legalization of table games has been introduced to the state legislature, and the measure has received bi-partisan support.
With Pennsylvania, being a state which provides with high level of tax on gambling games, the investors are still showing interest in this place, because, this is one of the many proven markets.
Though several states specifically Las Vegas And Atlantic City catch a glimpse of to deteriorate the revenue in gambling, luckily, Pennsylvania has successfully had grossly gained 30% due to the expansion of casinos.
The expansions in Pennsylvania whip up over $172,000,000 in the month of September this year. By legalizing the expansions in Pennsylvania, the lawmakers have fabricated a worthwhile source of revenue, and continue to have hard cash that erstwhile had crossed the border to the Atlantic City.
In addition, the lawmakers have acknowledged the need for additional jobs in the state. Unemployment is up, as it is in most states because of the recession, and lawmakers see expanded gambling at casinos as a way to counter the unemployment rate.
However, casino owners in Pennsylvania are also faint-hearted that the budgetary pressures will make expanded gambling the softest landing spot for lawmakers worried about raising taxes.
In Pennsylvania, the revenue potential of expanding the casinos are nearly $700 million annually, estimated $540 million from video poker and $156 million from table games.
In recent years, Pennsylvania has established off-track betting parlors for horse races, hitched the lottery to the multi-state Powerball game, and, in 2004, cleared the way for casino-style gambling with the legalization of slots play.
But Governor Ed Rendell and a number of legislators believe there is more money to be made from gambling.
Governor Ed Rendell would like to permit as many as 5 licensed video poker machines in every bar and tavern in Pennsylvania. He put forward to tax the proceeds to pay for tuition breaks for low- and middle-income students enrolled at state-owned colleges and community colleges.
A bill proposing the legalization of table games has been introduced to the state legislature, and the measure has received bi-partisan support.
With Pennsylvania, being a state which provides with high level of tax on gambling games, the investors are still showing interest in this place, because, this is one of the many proven markets.
Though several states specifically Las Vegas And Atlantic City catch a glimpse of to deteriorate the revenue in gambling, luckily, Pennsylvania has successfully had grossly gained 30% due to the expansion of casinos.
The expansions in Pennsylvania whip up over $172,000,000 in the month of September this year. By legalizing the expansions in Pennsylvania, the lawmakers have fabricated a worthwhile source of revenue, and continue to have hard cash that erstwhile had crossed the border to the Atlantic City.
In addition, the lawmakers have acknowledged the need for additional jobs in the state. Unemployment is up, as it is in most states because of the recession, and lawmakers see expanded gambling at casinos as a way to counter the unemployment rate.
However, casino owners in Pennsylvania are also faint-hearted that the budgetary pressures will make expanded gambling the softest landing spot for lawmakers worried about raising taxes.
Post a Comment