|In the near future, I will introduce legislation that responsibly generates additional revenue from the state’s gaming industry.
My proposal will ensure Pennsylvania’s Local Share issue is corrected while also creating new Local Share revenue, via satellite gaming locations, to be distributed in areas not currently receiving funding. This will provide approximately $240 million in up-front fees and upwards of $360 million of new tax revenue per year. In addition, this proposal will create over $650 million of capital investment and more than 4,000 construction jobs in the initial development phase. Upon opening, satellite locations will create more than 3,000 new jobs and $700 million in annual economic benefit.
Specifically, my legislation will:
Similar legislation will be introduced in the House of Representatives.
- Correct the Local Share issue by maintaining the status quo; requiring a $10 million per annum payment for casinos outside of Philadelphia.
- Authorize up to 25 satellite casino locations, each of which can have up to 500 machines, and will provide local share revenue to the host municipality, host county, and local clubs.
- Satellite locations will be limited to locations at least 25 miles away from existing casinos.
- License fees for satellite casinos will be up to $5 million dollars.
- Gross Terminal Revenue from these machines will be taxed at a 55% rate. Breakdown of revenue allocation is: 48% to the general fund, 5% to the local share, and 2% to the Race Horse Industry Fund.
- Satellite locations will not be permitted to have table games. However, nothing will prevent off track betting that meets the racing act criteria, or other legalized games of chance at a satellite location.
- Authorize airport gaming at a 55% tax rate.
- Authorize the Pennsylvania Lottery to conduct Keno at bars, taverns, and other licensed establishments.
- Authorize Skill and Hybrid Games in licensed casino facilities.
- Accelerate the Pennsylvania Gaming Control Board (PGCB) Loan Repayment to allow the Commonwealth to immediately realize $62 million in revenue.
Please join me to cosponsor this proposal which responsibly provides additional revenue to the Commonwealth and generates additional local share revenue for communities not currently served.