Three Of Nine Applicants Receive Approval To Offer Interactive Gaming In Pennsylvania
It’s good news for a handful of casinos in Pennsylvania this week as the Pennsylvania Gaming Control Board granted approval to a select few to provide interactive gaming services (iGaming) in the Commonwealth in the state. The move comes after the legalization of online gambling on October 26th, 2017.
The board received petitions from nine casino license holders between the dates of July 12th, 2018 and July 16th, 2018. The petitioners included:
- Greenwood Gaming and Entertainment, Inc., who is the operator of the Parx Casino
- Stadium Casino, LLC, who has been licensed to operate the Live! Hotel and Casino Philadelphia
- Mount Airy #1, LLC, the operator of the Mount Airy Casino Resort
- Sands Bethworks Gaming, LLC, the operator of the Sands Casino Resort Bethlehem
- Mountainview Thoroughbred Racing Association, LLC, the operator of the Hollywood Casino at Penn National Race Course
- Valley Forge Convention Center Partners, LP, the operator of the Valley Forge Casino Resort
- Chester Downs and Marina, LLC, the operator of the Harrah’s Philadelphia Casino & Racetrack
- Holdings Acquisition Co., LP, the operator of the Rivers Casino
- Sugarhouse HSP Gaming, LP, the operator of the SugarHouse Casino
Of these, only three casinos – Chester Downs and Marina, LLC, Greenwood Gaming & Entertainment, Inc and Mount Airy #1, LLC were granted approval and licenses to provide:
- Non-Peer-to-Peer interactive games on slot machines
- Non-Peer-to-Peer interactive table games
- Peer-to-Peer interactive poker games
The licenses come with a heavy price tag of $10 million each, which the approved casinos need to pay the Pennsylvania Gaming Control Board within 60 days from today. As per the terms of the approval, non-payment of the license fees can result in revocation of the iGaming license.
Currently, the Pennsylvania Gaming Control Board isn’t accepting any further applications. However, should licenses still remain or an approved member drop out of contention in the next two months, the Board may accept a fresh set of applications.
The granting of the iGaming approval is a phenomenal success for the three casinos. The Commonwealth Casino sector is one of the most lucrative spaces for US-based casinos and gaming centers, with its ten stand-alone racetrack casinos and two gaming resorts raking in a large chunk of the US gaming revenues. The Commonwealth industry accounts for $1.4 billion worth of tax-free revenue on slot machines and table games alone. A large chunk of this earnings is used by the authorities to reduce the burden of property taxes on Pennsylvania homeowners