Table game revenue at Pennsylvania casinos will be taxed two soon percent greater, and the rise 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 investing plan for the upcoming financial 12 months, and gambling is enemy #1.
The legislature that is republican-controlled authorized increasing fees on casino table games from 14 to 16 per cent, an apparently modest hike that in reality will probably pay significant dividends. Based on calculations, the state stands to get an additional $17 million annually from the two % bump.
The 16 per cent taxation rate switches into effect next week.
‘This one sort of came out of nowhere,’ Sands Casino Resort Bethlehem CEO Mark Juliano told The Morning contact Allentown. ‘We’re unhappy about. Pennsylvania is already the highest tax environment for casinos, but we’ll deal with it.’
Toes in the Sands
The tax increase on Pennsylvania casinos will impact that is most 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 the most profitable casino in the Keystone State.
Through June 30, 2016, Sands Be