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HOME > NEWS > Investor News > Jackpot247 backs call for online gambling in Pennsylvania

Jackpot247 backs call for online gambling in Pennsylvania

10 June 2014

(PRESS RELEASE) -- Leading online casino company, Jackpot247, has welcomed the news that online gambling could become legal in the US state of Pennsylvania.

A Senate panel has met to hear testimony on the possibility of regulated internet gambling, as legislators investigate ways in which the state could boost its finances.

According to the predictions of a Philadelphia firm employed by the legislature to produce a report on its market potential, online poker and other casino gaming services could generate total Pennsylvania-based revenues of £180 million in the first year and $300 million in subsequent years.

They estimate that if online poker was legalised and taxed at 20 per cent, with online slot-style games taxable at 60 per cent, it could bring the state first year direct tax revenues of $68 million and £113 million in following years.

Such revenue projections are timely, given the proximity of the state budget deadline at the end of June. It faces a predicted shortfall of more than $1 billion, a figure that was compounded this week with news that May general fund collections were $108 million below estimates.

Several Senators have talked up online gambling as a potential revenue source, however even its staunchest supporters do not envisage legislation to legalise it as being imminent.

A spokesperson for Jackpot247 has given his support for regulated online gambling in Pennsylvania, saying: “It is encouraging that the Senate is looking into it and is receptive to the idea of legalising online poker and other casino games. I am sure that with further investigation they will see that the benefits of regulated online gambling far outweigh the negatives.”

 
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