For the five-year period from 2018 through 2022, Pennsylvania is projected to add around US$ 426 million to state coffers from legal, regulated online casino games and poker through upfront license fees, revenue taxes, and renewal fees. The report was authored by Robert DellaFave, Senior Analyst for PlayPennsylvania.
In all, Pennsylvania will generate some US$ 230 million in total revenue in the first full year after legalisation and regulation. Annual revenue is projected to grow to US$ 364 million by 2022, with the majority of the revenue will be generated by new customers rather than siphoning off revenues from existing casinos. The findings are consistent with the performance of New Jersey’s legal online casino market.
"Online gaming in New Jersey helped Atlantic City reverse course, and will prove even more effective at facilitating the growth of the Pennsylvania market. Going forward, online gaming will provide the state with a reliable source of recurrent tax revenue, that will scale consistently over the next five years,” DellaFave said.
The Pennsylvania legislature has been inching closer to legalising and regulating online casino games and poker. Last week, four Pennsylvania state senators introduced an online gaming and gaming reform bill, Senate Bill 524, which would legalise and regulate online gaming and daily fantasy sports.
Source: GMB / Innovategaming
