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FOR IMMEDIATE RELEASE |
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State
Rep. Chris Sainato |
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Sainato: House passes table games at casinos in Pennsylvania
HARRISBURG, Jan. 7 – State Rep. Chris Sainato, D-Lawrence/Beaver, voted for a bill that is expected to generate an estimated $320 million over the next two years by legalizing table games such as blackjack and poker at Pennsylvania slots casinos. Gov. Ed Rendell is expected to sign the legislation into law today.
Sainato, a member of the House Gaming Oversight Committee, said he has been working with Chairman Rep. Dante Santoni of Berks County for the past six months on formulating legislation that would be beneficial to the people of Pennsylvania.
Sainato said table games would provide an economic boost to his area because Centaur Gaming of Indiana is interested in building a racetrack and casino outside New Castle.
"This legislation would greatly enhance Centaur's ability to secure financing for a casino in Lawrence County," Sainato said. "This was a critical vote for me because it would mean the possibility of thousands of new jobs and enhanced economic development in my area."
Sainato said close to 16,000 new jobs and $1 billion in economic development statewide are expected to be generated annually.
In addition, Sainato said the legislation would allow the state to keep funding school districts, counties and municipalities, which in turn would eventually reduce property tax increases.
Under the bill, race-track based casinos and stand-alone slot parlors would be required to pay a license fee of $16.5 million and be allowed to place up to 250 tables per facility, while smaller resort casinos would be required to pay a $7.5 million license fee and be allowed up to 50 tables per facility. The facilities would be allowed to increase the number of slot machines from 500 to 600. Casinos would also be permitted to host larger tournaments on a limited basis.
Sainato said table games would be taxed at a rate of 16 percent, with 14 percent going directly to the state and one percent going to the facility's host county. Another one percent would be allocated for the casino's host municipality. After two years of having table games in operation, each casino would see its tax rate dropped to a total of 14 percent, with 12 percent to the state and 2 percent for a local share.
All revenue generated by the state tax would go into the state's general fund to fill budget shortfalls until the state's "Rainy Day Fund" reaches $700 million. After that, all table game revenue will be added to the slot revenue in the Property Tax Relief Fund that already produced an average $180 per household per year statewide.
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