Table game revenue at Pennsylvania gambling enterprises will be taxed two soon % higher, and the rise will most greatly affect the Sands Casino Resort in Bethlehem.
Pennsylvania casinos will soon begin paying higher taxes on revenues generated at their tables. Lawmakers in Harrisburg continue to look for brand new sources of income to bridge a $1 billion budget gap in the state’s investing plan for the upcoming year that is fiscal and gambling is enemy #1.
The legislature that is republican-controlled approved increasing fees on casino table games from 14 to 16 %, an apparently modest hike that in reality will probably pay significant dividends. Based on calculations, the state stands to receive an additional $17 million annually from the two per cent bump.
The 16 % taxation rate switches into effect week that is next.
‘This one sort of came out of nowhere,’ Sands Casino Resort Bethlehem CEO Mark Juliano told The Morning get in touch with Allentown. ‘We’re unhappy about. Pennsylvania is already the tax environment that is highest for casinos, but we’ll deal along with it.’
Toes in the Sands
The tax increase on Pennsylvania casinos will impact that is most the Sands Bethlehem resort. Owned by billionaire Sheldon Adelson, one of Donald Trump’s biggest financiers into the 2016 presidential election, Adelson’s venue is the most profitable casino into the Keystone State.