Report Forecasts Win With Legalized, Regulated Online Gambling In Pennsylvania, But Unique Structure Presents Obstacles

LAS VEGAS, Oct. 30, 2017 /PRNewswire/ -- Pennsylvania will likely collect $120 million in upfront license fees and stands to collect hundreds of millions of dollars more in tax revenue from legalized and regulated online gambling, according to the recently released white paper by PlayPennsylvania.com: "Pennsylvania Moves to Regulate Online Gambling."

Pennsylvania Gov. Wolf reportedly signed a bill into law on Monday, Oct. 30, that makes online gambling legal, and with it comes a unique regulatory framework, according to the PlayPennsylvania.com report.

Substantial upfront license fees and a blended tax rate that is more than double New Jersey's tax rate are among the key differences in Pennsylvania's approach to regulated online gambling. In addition, the bill facilitates a rapid path to market and is built to foster interstate agreements with states where online gambling is also legal and regulated, including Delaware, Nevada, and New Jersey.

"Pennsylvania's unique structure makes it difficult to forecast revenues with precision, but the successes in other states suggest that online gambling will be a significant and reliable revenue driver for years to come," said Chris Grove, a Las Vegas-based gambling industry strategist who authored the report.

"Pennsylvania's high tax rate will force operators to cut back on marketing and promotion, and could dissuade some consumers from leaving black market sites," Grove added. "It is certainly possible that lawmakers will need to revisit the tax rate in order to ensure a market that works best for both the commonwealth and the casino industry that has contributed billions to Pennsylvania's coffers."

For a copy of the PlayPennsylvania.com report, visit www.playpennsylvania.com/casino.

About Chris Grove:
Chris Grove is a gambling industry strategist based in Las Vegas. A managing director  at Eilers & Krejcik Gaming, Grove also oversees trade publications covering regulated online gambling, esports, and daily fantasy sports.

About The PlayUSA Network:
The PlayUSA Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over a dozen states, PlayUSA.com and its state-focused branches produce daily original reporting, publish in-depth research, and offer player advocacy tools for the advancement of safe, licensed, and legal online poker and gaming options for consumers.

Contacts:
Zack Hall, DVA Advertising & PR, 541-389-2411, [email protected]

SOURCE The PlayUSA Network