Pennsylvania On Way to Casino Gambling Expansion
Pennsylvania is the second gambling state in the U.S., after Las Vegas. The status of an alternative to the gambling capital in the world is going to be over now. Surprisingly, Pennsylvania will very soon overtake Las Vegas in the next few years in terms of gambling.
As per reports, Pennsylvania is going to extend its online betting in the community and public places including bus stops and airports. This huge initiative is going to take place despite the lack of funds of the local government.
Recently to overcome their financial problem from further developing, Tom Wolf, the current governor, has signed the legislation confirming the major expansion of the gambling industry in the state. With this initiative, Pennsylvania will become the fourth state to legalize online gambling along with New Jersey, Delaware, and Nevada.
With an intention to attract a huge base of loyal customers, the state has become the first to legalize online betting, both on its casinos and the state lottery.
What Government Thinks About It
There is a mix reaction from the other people in power about the state’s new policy. Many think legalization of online casinos is a nice way to balance the state’s fund crisis. Many believe it is a much better option than to increase the people’s taxes. Although he’s not very happy taking this initiative of legalizing gambling, there is no better option available.
As per Wolf expansion of gambling expansion will not adversely impact the existing tax collections from other casinos. He hopes the struggling Pennsylvania state Lottery wouldn’t face a further downturn.
One major reason Pennsylvania is wholeheartedly accepting this expansion is to get stable recurring revenue. The major motive of government is to multiply the revenue sources with an objective to stabilize the state’s funding.
Welcome to New Casinos
With this expansion, more new casinos will also be welcome wholeheartedly. If the reports are to be believed, the new law allows many existing casinos to bid license for brand new casinos if they are smaller.
The average bidding is expected to be $7.5 million which will also include the table game licenses that would add an additional $2.5 million to the bidding. A number of new slot machines and table games would have capping for the casinos. This must not be more than 750 slots and 30 live table games. Moreover, the already existing casinos can have 5,000 slot machines. This would introduce a new wave of great bonuses and free spins.
The Rise of new Interactive Gambling Zones
With the new casinos allowed to functioning interactive gambling casinos in bus stops and airports, it will cover the entire Pittsburgh and Philadelphia. Eight airports have been identified where casinos can put up slots, whereas bus stops can have five slot machines. Once installed, these would be called video gaming terminals entertaining the visitors. Currently only Nevada and Puerto Rico are having gambling zones in airports.
Pennsylvania is considered as a second option next to Nevada, it is a no-1 state in terms of casino revenues. It generates in a whopping $1.4 billion every year. The lottery earns $1 billion profit and $4 billion in sales every year.