{"id":37768,"date":"2016-07-27T16:00:39","date_gmt":"2016-07-27T23:00:39","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=37768"},"modified":"2016-07-27T14:40:28","modified_gmt":"2016-07-27T21:40:28","slug":"pennsylvania-casinos-taxes-increased-sands-bethlehem-suffers","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/pennsylvania-casinos-taxes-increased-sands-bethlehem-suffers\/","title":{"rendered":"Pennsylvania Casinos See Their Taxes Increased, Sheldon Adelson’s Sands Bethlehem Suffers Most"},"content":{"rendered":"
\"Pennsylvania
Table game revenue at Pennsylvania casinos will soon be taxed two percent higher, and the increase will most greatly affect the Sands Casino Resort in Bethlehem. (Image: Harry Fisher\/The Morning Call)<\/figcaption><\/figure>\n

Pennsylvania casinos will soon begin paying higher taxes on revenues generated at their tables. Lawmakers in Harrisburg continue to look for new sources of income to bridge a $1 billion budget gap in the state’s spending plan for the upcoming fiscal year, and gambling is enemy #1<\/a>.<\/p>\n

The Republican-controlled legislature recently approved increasing taxes on casino table games from 14 to 16 percent, a seemingly modest hike that in reality will pay substantial dividends. According to calculations, the state stands to receive an additional $17 million annually from the two percent bump.<\/p>\n

The 16 percent tax rate goes into effect next week.<\/p>\n

“This one sort of came out of nowhere,” Sands Casino Resort Bethlehem CEO Mark Juliano told The Morning Call in Allentown. “We’re not happy about. Pennsylvania is already the highest tax environment for casinos, but we’ll deal with it.”<\/p>\n

Toes in the Sands<\/b><\/h2>\n

The tax increase on Pennsylvania casinos will most impact the Sands Bethlehem resort. Owned by billionaire Sheldon Adelson, one of Donald Trump’s biggest financiers in the 2016 presidential election, Adelson’s venue is the most profitable casino in the Keystone State.<\/p>\n

Through June 30, 2016, Sands Bethlehem has generated over $228 million this year in gross table gaming revenue.<\/p>\n

At 14 percent, Sands will pay the state $31.92 million in taxes. At 16 percent, Sands would be on the hook for $36.48 million, a difference of $4.56 million.<\/p>\n

Of course, those posted revenues won’t be subject to the two percent surcharge, but the difference clearly illustrates the forthcoming impact on Sands.<\/p>\n

Juliano said the resort will likely be forced to reduce free stays and meals for VIPs and rewards customers.<\/p>\n

$100 Million Problem<\/b><\/h2>\n

Pennsylvania lawmakers approved a budget this month that Governor Tom Wolf (D) allowed to pass without his signature. The $31.6 billion budget assumes $100 million in new gambling revenues, but where those funds are coming isn’t yet clear.<\/p>\n

The General Assembly will reconvene in September to iron out the details. On the agenda includes online gambling and expanding slot machines to airport terminals and off-track horse racing facilities.<\/p>\n

\n

In the most recent proposal, current land-based casinos would be given the opportunity to\u00a0purchase Internet gaming permits for $8 million, with\u00a0revenues taxed at 16 percent. Off-track betting venues and casinos could also partner to offer slots at a cost of $5 million per location, and airport slot fees would be dependent on passenger traffic.<\/p>\n<\/div>\n

Daily fantasy sports is also expected to be in the mix when the legislature hones in on gaming expansion.<\/p>\n

Nothing is set in stone and details of the individual outlines\u00a0could change.<\/p>\n

Casinos have already shrugged off the state’s proposal to allow gambling facilities to serve alcohol<\/a> between 2 and 6 am due to the expanded alcohol license’s $1 million price tag.<\/p>\n

Pennsylvania has some of the highest gambling taxes in the country. The state has an effective rate of 55 percent on gaming revenue, with 34 percent going directly to the state and 12 percent to the Pennsylvania Race Horse Development Fund.<\/p>\n","protected":false},"excerpt":{"rendered":"

Pennsylvania casinos will soon begin paying higher taxes on revenues generated at their tables. Lawmakers in Harrisburg continue to look for new sources of income to bridge a $1 billion budget gap in the state’s spending plan for the upcoming fiscal year, and gambling is enemy #1. The Republican-controlled legislature recently approved increasing taxes on […]<\/p>\n","protected":false},"author":42,"featured_media":37771,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,13,18],"tags":[],"acf":[],"yoast_head":"\nPennsylvania Casinos See Their Taxes Increased, Sands Suffers<\/title>\n<meta name=\"description\" content=\"Pennsylvania casinos will soon begin paying higher taxes on table revenues as lawmakers in the cash-strapped state continue to look for new income sources.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pennsylvania Casinos See Their Taxes Increased, Sands Suffers\" \/>\n<meta property=\"og:description\" content=\"Pennsylvania casinos will soon begin paying higher taxes on table revenues as lawmakers in the cash-strapped state continue to look for new income sources.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/pennsylvania-casinos-taxes-increased-sands-bethlehem-suffers\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2016-07-27T23:00:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2016-07-27T21:40:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/07\/mc-pa-ban-on-guns-in-casinos-axed-20150418.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"458\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/pennsylvania-casinos-taxes-increased-sands-bethlehem-suffers\/\",\"url\":\"https:\/\/www.casino.org\/news\/pennsylvania-casinos-taxes-increased-sands-bethlehem-suffers\/\",\"name\":\"Pennsylvania Casinos See Their Taxes Increased, Sands Suffers\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/pennsylvania-casinos-taxes-increased-sands-bethlehem-suffers\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/pennsylvania-casinos-taxes-increased-sands-bethlehem-suffers\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/07\/mc-pa-ban-on-guns-in-casinos-axed-20150418.jpg\",\"datePublished\":\"2016-07-27T23:00:39+00:00\",\"dateModified\":\"2016-07-27T21:40:28+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Pennsylvania casinos will soon begin paying higher taxes on table revenues as lawmakers in the cash-strapped state continue to look for new income sources.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/pennsylvania-casinos-taxes-increased-sands-bethlehem-suffers\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/pennsylvania-casinos-taxes-increased-sands-bethlehem-suffers\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/pennsylvania-casinos-taxes-increased-sands-bethlehem-suffers\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/07\/mc-pa-ban-on-guns-in-casinos-axed-20150418.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/07\/mc-pa-ban-on-guns-in-casinos-axed-20150418.jpg\",\"width\":700,\"height\":458,\"caption\":\"Table game revenue at Pennsylvania casinos will soon be taxed two percent higher, and the increase will most greatly affect the Sands Casino Resort in Bethlehem. 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