Online Gambling in Pennsylvania Seeing Positive Results Thus Far in 2017 with Projected Annual Revenues at $230 Million
Recent reports released in the state of Pennsylvania claim that the state could receive more than $400 million in tax revenues within the next 5 years if they were to legalize online gambling, but not everyone is on board, mainly the naysayers that are against online gambling. The state would collect upfront $126 million in licensing fees from online gambling sites, and more than $45 million each year for the next 5 until 2022.
Projected revenues amount to $230 million just the first year and $364 million after. If the state proposed a tax rate at 20% they would collect $426 million the first five years. These figures are based on predictions and what New Jersey collected the first couple years after legalizing online activities.
Of course, the predictions were criticized by Sheldon Adelson’s anti-online gambling action group. Adelson’s The Coalition to Stop Internet Gambling groups spokesman, John Ashbrook said,
“These predictions are about as reliable as Warren Beatty’s best picture envelope. It’s not surprising that online gaming consultants would exaggerate numbers to help their business.”
Other comments being said include “There’s no voodoo involved in these projections (which are) based on New Jersey’s experience and adjusted for Pennsylvania’s casino industry and demographics.”