Table game revenue at Pennsylvania gambling enterprises will be taxed two soon % greater, and the increase will many greatly affect the Sands Casino Resort in Bethlehem.
Pennsylvania gambling enterprises will begin paying higher soon taxes on revenues generated at their tables. Lawmakers in Harrisburg continue to look for new sources of income to bridge a $1 billion spending plan gap in hawaii’s investing plan for the upcoming fiscal year, and gambling is enemy # 1.
The Republican-controlled legislature recently approved increasing fees on casino table games from 14 to 16 percent, a seemingly modest hike that in reality will pay substantial dividends. In accordance with calculations, the state stands to get an additional $17 million annually from the 2 % bump.
The 16 per cent income tax rate goes into effect next week.
‘This one kind of came out of nowhere,’ Sands Casino Resort Bethlehem CEO Mark Juliano told The Call in Allentown morning. ‘We’re unhappy about. Pennsylvania is currently the highest tax environment for casinos, but we’ll deal with it.’
Toes in the Sands
The tax increase on Pennsylvania gambling enterprises will impact that is most the Sands Bethlehem resort. Owned by billionaire Sheldon Adelson, one of Donald Trump’s biggest financiers into the 2016 presidential election, Adelson’s venue is considered the most profitable casino in the Keystone State.