HARRISBURG, October 9, 2009 – State Sen. Daylin Leach (D-Delaware/Montgomery) today said he was pleased with the Senate’s passage of legislation (Senate Bill 1033) that would enable Pennsylvania casinos to offer table games.
The bill would allow the inclusion of table games at the state’s 10 existing licensed slot machine venues and generate a projected $200 million in state revenues for the remainder of fiscal year 2009-10. The bill, co-sponsored by Leach, passed by a vote of 29-20. The measure now moves to the House of Representatives for concurrence.
“This bill would allow our state to bring in more revenue by simply expanding what is offered at facilities that are already in operation,” Leach said. “The table games proceeds would create over 10,000 new jobs and generate millions in tax revenues for state and local governments.”
Leach added that Senate Bill 1033 has three main goals: to enhance the revenue received from gaming, to create more jobs, and to maintain regulatory oversight. Under the bill, table games would be taxed at a rate of 12 percent after payment of an initial $15 million licensing fee for Category 1 and 2 licensees and a $7.5 million fee for Category 3 “resort” licensees. The revenues received from the tax would go to the state’s General Fund.
It has been projected that table games could earn more than $100 million in one-time licensing fees and up to $160 million in recurring revenues from the use of table games at each casino. In addition, Leach noted, combining slots and table games under one roof could also increase slot revenues by more than $60 million annually and provide an additional 3 percent for local property tax relief.
“In addition to allowing us to claim millions of dollars more annually, this measure could also create thousands of new jobs in Pennsylvania,” Leach said. “This is a common-sense way for Pennsylvania to combat a declining economy while also helping nearby restaurants, hotels and other businesses to capitalize on the increased dollars this new industry will produce.
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