Pennsylvania could see $50 million a year in sports gambling revenue

Pennsylvania could see $50 million a year in sports gambling revenue

Newly released numbers show the Department of Revenue estimates Pennsylvania can anticipate between $40 and $50 million in tax revenue annually once all sports wagering licensees are fully operational.

For fiscal year 2018-19, the department predicts $11.2 million in tax revenue from the recent sports wagering expansion, allowed by a recent U.S. Supreme Court ruling. For fiscal year 2019-20, the number is expected to increase to $33.6 million.

However, a 2017 study conducted by Oxford Economics indicates once sports wagering is more convenient nationally, the commonwealth would experience a decrease in tax revenue due to the high tax rate.

Monday, December 10, 2018/Author: Robert Cochran
Categories: News and Views
RSS