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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 :

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

NY Rangers vs. Devils on 12/21 - When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.

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