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PGCB Reports Initial Sports Wagering Revenue

George Miller

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PGCB Reports Initial Sports Wagering Revenue
Photo Source: ninersnation.com
Reading Time: 2 minutes

 

The Pennsylvania Gaming Control Board posted on its web site its initial monthly report for Sports Wagering. The initial report encompasses just the returns from November 15th to 30th for Hollywood Casino at Penn National Race Course which was the first to launch a sports wagering facility in the Commonwealth.

The monthly report, which will include additional facilities as they launch sportsbooks, provides a breakdown of the total handle collected, gross revenue, and taxes owed to the Commonwealth.

During the aforementioned November period, Hollywood Casino at Penn National Race Course reported a handle of $1,414,586.55 and adjusted gross revenue after payouts of $508,996.60.

A total of $183,238.77 of tax revenue was generated and returned to the Commonwealth from sports wagering at Hollywood Casino during this two-week period:

State Tax (34% of adjusted gross revenue):

$173,058.84

Local Share Assessment (2% of adjusted gross revenue):

$10,179.93

Two additional facilities, Rivers Casino in Pittsburgh and SugarHouse Casino in Philadelphia commenced sports wagering during December. Revenue figures for those facilities will be included in next month’s report.

 

About the Pennsylvania Gaming Control Board:

The Pennsylvania Gaming Control Board is tasked to oversee all aspects of the state’s casino industry, along with oversight of new gaming initiatives created through amendments to the Race Horse Development and Gaming Act recently approved by the signing of Act 42 of 2017. To date, the PGCB regulates the play within the Commonwealth of Fantasy Sports Contests along with three casino operators offering Sports Wagering. Additional new gaming initiatives are expected to launch in the coming months.

The Commonwealth’s casino industry currently consists of 10 stand-alone and racetrack casinos in operation, along with the two smaller resort casinos.  These facilities collectively employ 17,000 people and annually generate approximately $1.4 billion in tax revenue from slot machine and table games play. The largest portion of that money is used for property tax reduction to all Pennsylvania homeowners.

Additional information about both the PGCB’s gaming regulatory efforts and Pennsylvania’s gaming industry can be found at gamingcontrolboard.pa.gov. You can also follow the agency on Twitter by choosing @PAGamingControl.

 

Source: Pennsylvania Gaming Control Board

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Compliance Updates

PGCB Imposes Fine Totalling US$242k on Two Casino Operators

Niji Narayan

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PGCB Imposes Fine Totalling US$242k on Two Casino Operators
Photo Source: pennsylvaniacasinos.com
Reading Time: 1 minute

 

The Pennsylvania Gaming Control Board (PGCB) has imposed the fines totalling US$242k against two casino operators.

Sands Bethworks Gaming, LLC, operator of the Sands Casino Resort in Northampton County, received separate fines of US$120k for underage gaming violations and a second for US$110k regarding the awarding of free slot play. The fine stemmed from 11 incidents in which individuals under the age of 21 accessed the gaming floor.

The second fine was issued for permitting the issuance of free slot play by employees who were not authorised to do so and/or issuing free slot play of amounts above authorised levels.

Washington Trotting Association, LLC, operator of the Meadows Racetrack and Casino in Washington County, received a US$12.5k fine for an underage gaming violation. This fine stemmed from an 18-year-old male gaining access onto the gaming floor, wagering at table games and being served alcohol.

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Gambling in the USA

Bet365–EML Partnership to Launch Prepaid Credit Card in New Jersey

Niji Narayan

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Bet365–EML Partnership to Launch Prepaid Credit Card in New Jersey
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Bet365, the UK based online gambling company, has partnered with EML Payments to develop a new prepaid credit card in New Jersey.

The bet365 branded card will allow both deposit and withdrawal of funds from online account. The card will launch in mid-2019, subject to regulatory approval.

The agreement with EML also includes scope to expand this service into other regulated US states where bet365 may roll out its gambling services.

Bet365 is yet to launch in New Jersey but has a deal in place to do so with the Hard Rock Atlantic City casino, as revealed in a letter sent to the New Jersey Division of Gaming Enforcement (DGE). The DGE has approved the request for the two parties to enter into an agreement but bet365 is yet to begin operating in the state.

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Gambling in the USA

NetEnt signs landmark deal with DraftKings in New Jersey

George Miller

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NetEnt signs landmark deal with DraftKings in New Jersey
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NetEnt has entered into an online casino supplier agreement with DraftKings for the regulated market in New Jersey (USA).

 

NetEnt is increasing its footprint in the regulated online gambling market in New Jersey and is very proud to announce a new agreement with fast-growing operator DraftKings. In the coming weeks, a large selection of NetEnt casino games will be launched and available to DraftKings players.

“We are very excited to have landed a deal with DraftKings. As the world-leader in fantasy sports, with a large player base, they will add a new dimension to the market and we are confident that their players will enjoy our popular games,” says Erik Nyman, Managing Director NetEnt Americas LLC.

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