PGCB Agenda Likely to Include Two Sports Betting Applications
The post PGCB Agenda Likely to Include Two Sports Betting Applications appeared first on SportsHandle.
Two Pennsylvania casinos are poised to become the first to get approval for sports betting when the state’s Gaming Control Board meets on Oct. 3. The Hollywood Casino, owned by Penn National and operated by Mountainview Thoroughbred Racing LLC, and the Parx Casino, owned by Greenwood Racing, were the first to apply for sports betting licenses in Pennsylvania when they did so in August.
According to the PGCB’s Director of Communications, Doug Harbach, “it is highly likely that sports wagering petitions from both Penn National and Parx casinos will be up for consideration by the Board at its October 3rd meeting.” If the petitions are on the agenda, hearings will be held at the front end of the meeting.
Pennsylvania has 13 sports betting licenses available, one for each of the 13 casinos operating in the state. To date, 11 remain available, and the state will not auction off any that are not claimed. Pennsylvania approved sports betting nearly a year ago, but the state has not moved as swiftly as others to bring sports betting to market. The PGCB released its temporary regulations in August. The state’s legislature imposed a 36 percent tax (34 percent state and 2 percent local) on operators’ sports betting revenue and a $10 million application fee. Both are significantly higher than any other state that has legal sports betting. As examples, West Virginia has a 10 percent tax rate, New Jersey 8.5 percent and Nevada 6.75 percent.
