Pennsylvania Casinos See Their Fees Increased, Sheldon Adelson’s Sands Bethlehem Suffers Most
Table game revenue at Pennsylvania casinos will be taxed two soon % higher, and the increase will many greatly affect the Sands Casino Resort in Bethlehem.
Pennsylvania gambling enterprises 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 hawaii’s investing plan for the upcoming financial 12 months, and gambling is enemy # 1.
The Republican-controlled legislature recently authorized increasing taxes on casino table games from 14 to 16 per cent, a seemingly modest hike that in reality will pay substantial dividends. In accordance with calculations, the continuing state stands to receive an additional $17 million annually from the two % bump.
The 16 % tax price adopts effect next week.
‘This one kind 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 currently 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 presidential election, Adelson’s venue is the most profitable casino in the Keystone State.