Table game revenue at Pennsylvania casinos will quickly be taxed two % higher, and the increase will many greatly affect the Sands Casino Resort in Bethlehem.
Pennsylvania casinos will begin paying higher soon taxes on revenues generated at their tables. Lawmakers in Harrisburg continue steadily to look for brand new sources of income to bridge a $1 billion budget gap in hawaii’s spending plan for the upcoming financial year, and gambling is enemy #1.
The legislature that is republican-controlled authorized increasing taxes on casino table games from 14 to 16 per cent, an apparently modest hike that in reality can pay significant dividends. In accordance with calculations, the state stands to receive an additional $17 million annually from the two % bump.
The 16 per cent taxation price switches into effect next week.
‘This one sort of came out of nowhere,’ Sands Casino Resort Bethlehem CEO Mark Juliano told The Morning get in touch with Allentown. ‘We’re not happy about. Pennsylvania is already the highest tax environment for casinos, but we’ll deal along with it.’
Feet in the Sands
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 within the 2016 election that is presidential Adelson’s venue is considered the most profitable casino in the Keystone State.
Through Ju [Read more…]