The Pennsylvania Senate has given the thumbs up for a gambling expansion package and the main benefactors of this new package are the online poker sites in the state.
The Pennsylvania Senate has given its nod to legalize the online poker sites after a lot of deliberation. The talk for the gambling expansion in the Pennsylvania state was going for a couple of years. The Senate had met over 100 times since 2015 to discuss the gambling expansion package and to legalize online poker sites.
The Keystone State Senate approved the online poker for the very first time and this has paved way for the legislation to now meet the lawmakers in the House to take a decision on this in the coming weeks. The omnibus bill also includes legalization for online lottery sales and regulation of the daily fantasy sports.
The House lawmakers have been always game for the online gaming regulations in the past and it was the Senate that did not show much interest in making the online poker sites legal. The bill was given a quick clearance now because of the tax issues that are happening between the 12 casinos and the host communities. The lawmakers were looking for opportunities to keep the cash flow ticking to the local communities with a casino.
The license for an online poker site will cost the licensor $5 million. The revenues that the site generates from poker games will have a 16 percent tax. The casino industry in Pennsylvania is seeing a good boom now and it touched its all-time high revenue from gamblers in 2016 that was at $3.2 billion.
The Senate is happy to have legalized the online poker sites as this way it will be able to generate additional $300 million as revenue to the gambling market in the state.