HARRISBURG – Sports wagering in Pennsylvania appears to be just weeks away.
The Pennsylvania Gaming Control Board has approved sports betting licenses for five of the state’s 12 casinos and this week gaming regulators gave their OK to the state’s first sanctioned sports odds maker.
The Gaming Control Board this week approved applications for sports betting licenses for the SugarHouse Casino in Philadelphia, and Harrah’s Chester Downs casino, and the Rivers Casino in Pittsburgh.
The board also approved William Hill as a partner to be the professional bookie to set odds for the sportsbook at the Penn National Hollywood Casino in Grantville, near Hershey.
“We’re hoping to begin around the middle to the end of this month but are still awaiting final sign-off" from gaming regulators, said Eric Schippers, a spokesman for Penn National said on Friday.
William Hill is a company that already operates sports wagering in a number of other states, including on behalf of Penn National in Mississippi and West Virginia, John Finamore, senior vice president for Penn National Gaming said at an October Gaming Control Board meeting.
William Hill also has sports betting in Nevada, New Jersey and Delaware.
With the bookie approved, that casino appears to be in the lead to get its sports book up and running.
“That one should move forward now pretty briskly,” said Doug Harbach, a spokesman for the Gaming Control Board. He could not say exactly when the sports wagering will launch.
“Most of the work going forward is in the hands of the casinos, which must get their physical location set up,” he said.
Other than Penn National, the other casinos must get the Gaming Control Board to approve their odds-maker partners, he said.
To offer sports betting, the casinos must pay a $10 million fee.
The move to legally bet on sports – including professional, collegiate and international sports – was made possible by a May U.S. Supreme Court decision. Prior to that decision, sports wagering was legal only in Nevada, Delaware, Oregon and Montana. Since the decision, New Jersey, West Virginia, Mississippi, Rhode Island and Pennsylvania have legalized sports betting and Delaware expanded the type of sports betting allowed in that state.
Sports betting bills have also been introduced in 15 other states, where they are likely to be considered in 2019, according to an analysis released this week by the Pew Charitable Trusts.
The Pew analysis suggested that while there is great interest in sports betting now, it’s far from clear that legalizing it will provide lasting revenue for state coffers.
The Pew report noted that in July, Standard & Poor’s said sports betting activity “may boost state gaming tax revenue, but those gains are unlikely to be sustained.” Moody’s Investors Service concluded “that even under the most optimistic scenarios, the revenue boost from sports betting would be minor,” according to Pew.
In New Jersey, where sports betting also debuted in June, state Treasurer Elizabeth Muoio has estimated that sports betting will provide about $13 million in tax revenue for fiscal year 2019—less than 1 percent of the $37.4 billion budget, according to Pew.
West Virginia began allowing sports bets at its Hollywood Casino on Sept. 1, levying a 10 percent tax. Casinos offering sports betting also pay a $100,000 licensing fee every five years. Lawmakers there have projected that the state stands to get $5.5 million in taxes in the first year, which would increase to $13 million to $18 million annually in the next five years, according to Pew.
The Pew analysis noted that the $10 million licensing fee and 36 percent tax rate “could affect casino interest,” in Pennsylvania. But with five casinos already in line to take sports bets, the state’s due to get $50 million in licensing fees, alone -- $20 million more than the state’s Independent Fiscal Office had projected the sports betting fees would generate.
Last month, the board also voted to allow Parx Casino to offer sports betting at its casino in Bensalem and the South Philly Turf Club, an off-track betting parlor near Citizens Bank Park and Lincoln Financial Field, the homes of the Philadelphia Phillies and Eagles.
SugarHouse and the Rivers Casino operators are aiming to launch their sports betting by Dec. 1, casino officials told the Gaming Control Board at a meeting on Wednesday.
The Pennsylvania Gaming Control Board has approved sports betting licenses for five of the state’s 12 casinos and this week gaming regulators gave their OK to the state’s first sanctioned sports odds maker.
The Gaming Control Board this week approved applications for sports betting licenses for the SugarHouse Casino in Philadelphia, and Harrah’s Chester Downs casino, and the Rivers Casino in Pittsburgh.
The board also approved William Hill as a partner to be the professional bookie to set odds for the sportsbook at the Penn National Hollywood Casino in Grantville, near Hershey.
“We’re hoping to begin around the middle to the end of this month but are still awaiting final sign-off" from gaming regulators, said Eric Schippers, a spokesman for Penn National said on Friday.
William Hill is a company that already operates sports wagering in a number of other states, including on behalf of Penn National in Mississippi and West Virginia, John Finamore, senior vice president for Penn National Gaming said at an October Gaming Control Board meeting.
William Hill also has sports betting in Nevada, New Jersey and Delaware.
With the bookie approved, that casino appears to be in the lead to get its sports book up and running.
“That one should move forward now pretty briskly,” said Doug Harbach, a spokesman for the Gaming Control Board. He could not say exactly when the sports wagering will launch.
“Most of the work going forward is in the hands of the casinos, which must get their physical location set up,” he said.
Other than Penn National, the other casinos must get the Gaming Control Board to approve their odds-maker partners, he said.
To offer sports betting, the casinos must pay a $10 million fee.
The move to legally bet on sports – including professional, collegiate and international sports – was made possible by a May U.S. Supreme Court decision. Prior to that decision, sports wagering was legal only in Nevada, Delaware, Oregon and Montana. Since the decision, New Jersey, West Virginia, Mississippi, Rhode Island and Pennsylvania have legalized sports betting and Delaware expanded the type of sports betting allowed in that state.
Sports betting bills have also been introduced in 15 other states, where they are likely to be considered in 2019, according to an analysis released this week by the Pew Charitable Trusts.
The Pew analysis suggested that while there is great interest in sports betting now, it’s far from clear that legalizing it will provide lasting revenue for state coffers.
The Pew report noted that in July, Standard & Poor’s said sports betting activity “may boost state gaming tax revenue, but those gains are unlikely to be sustained.” Moody’s Investors Service concluded “that even under the most optimistic scenarios, the revenue boost from sports betting would be minor,” according to Pew.
In New Jersey, where sports betting also debuted in June, state Treasurer Elizabeth Muoio has estimated that sports betting will provide about $13 million in tax revenue for fiscal year 2019—less than 1 percent of the $37.4 billion budget, according to Pew.
West Virginia began allowing sports bets at its Hollywood Casino on Sept. 1, levying a 10 percent tax. Casinos offering sports betting also pay a $100,000 licensing fee every five years. Lawmakers there have projected that the state stands to get $5.5 million in taxes in the first year, which would increase to $13 million to $18 million annually in the next five years, according to Pew.
The Pew analysis noted that the $10 million licensing fee and 36 percent tax rate “could affect casino interest,” in Pennsylvania. But with five casinos already in line to take sports bets, the state’s due to get $50 million in licensing fees, alone -- $20 million more than the state’s Independent Fiscal Office had projected the sports betting fees would generate.
Last month, the board also voted to allow Parx Casino to offer sports betting at its casino in Bensalem and the South Philly Turf Club, an off-track betting parlor near Citizens Bank Park and Lincoln Financial Field, the homes of the Philadelphia Phillies and Eagles.
SugarHouse and the Rivers Casino operators are aiming to launch their sports betting by Dec. 1, casino officials told the Gaming Control Board at a meeting on Wednesday.
