State of Pennsylvania Approves Online Gambling And DFS Legislation
There is potentially some very positive news coming out of the stat of Pennsylvania as the House of Representatives on the state approved a bill that could legalize online gambling and DFS in the state.
Tuesday saw the House vote 114-85 in favor of the HB 2150 legislation that was initially rejected due to a controversial VGT inclusion. With the VGT element removed the bill passed and is now set for the Senate and finally Gov. Tom Wolf’s signature. If all this happens Pennsylvania will be the fourth US state to offer legal; online gambling and could be a much needed injection for the stagnant online US gambling industry.
In terms of the amended HB 2150 Bill, the twelve Pennsylvania land and mortar based casinos would be allowed to partner with online gaming technology providers to offer online casino and poker games to Pennsylvania state residents.
In in order to enjoy this right, casinos will have to fork out $8m upfront for a five year licence fee and an additional $250k for renewals. The online gaming technology provider will also have to pay their dues in the form of $2m upfront and with a renewal feed so f $100k after five years.
The online operators will have a 16 percent online tax duty, of which 14% will go directly to the state and the remaining 2% for economic development projects. In addition to the twelve casinos, the six state airports will be allowed to offer slots and mobile gambling. Here the operators will have to pay $1m upfront and $100k for renewals. For the large airports like Philadelphia airport, operators will have to pay a step $5m and the smaller Pittsburg will only cost half of that.
For the DFS license operators will have to pay $50k or 7.5% of adjusted revenue from the previous year, casinos however will have to pay the full $50k to offer DFS.