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iGaming as the biggest potential source of revenue for Pennsylvania

Wednesday May 7,2014 :  IGAMING BIGGEST POTENTIAL REVENUE SOURCE SAYS PENNSYLVANIA STUDY (Update)
 
Most likely complement to land-based casinos
 
A report commissioned by the Pennsylvania General Assembly Joint Budget and Finance Committee in December 2013 was released this week identifying iGaming as the biggest potential source of revenue for the State.
 
The findings forecast that iGaming could yield $184 million in the first year and $307 million the next with direct tax revenues estimated to potentially yield $68 million in the first year, and $110+million annually thereafter. And estimates that online sports betting could yield between $100 million and $400 million in revenue of which tax would amount to around $25 million in the first year.
 
A conservative approach is suggested when setting tax rates for iGaming which would be slightly above land-based rates due to perceived lower operating costs in the online sector.  The report suggests a 20 percent tax rate on online poker and 60 percent for online slot-style games but suggests those be phased in as the sector progresses rather than set at start-up.
 
On the issue of cannibalisation, the report found iGaming would compliment rather than cannibalise terrestrial casino revenues, providing synergistic marketing opportunities and an increase in terrestrial casino foot traffic as new gamers become comfortable with playing poker in particular.
 
The full report can be accessed at: http://lbfc.legis.state.pa.us/reports/2014/90.PDF



Gambling News :

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

Sensational Sixes Slot Goes Live - Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!

3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

The Railbird Launched By Americas Card Room #acra - Watching your friends conquer the tables just got a whole lot easier. Americas Card Room recently launched its industry-first Player Observer Tool dubbed “The Railbird”, a new feature that allows players seated at Americas Card Room tables to instantly share a live stream of their action with friends.

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