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FOR IMMEDIATE RELEASE |
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State
Rep. Dante Santoni |
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Table games impact subject of Gaming Oversight meeting
HARRISBURG, June 24 – The House Gaming Oversight Committee today held a meeting to examine a report that details the financial and employment impact of implementing table games at Pennsylvania's 14 licensed slot-gaming facilities.
Committee Chairman Dante Santoni, D-Berks, said the committee is exploring the concept of table games in light of recent interest in adding the games and using the proceeds, at least temporarily, to help Pennsylvania address state budget shortfalls. Pennsylvania's current budget deficit is estimated at $3.2 billion.
"Pennsylvania and states across the nation are struggling to close budget gaps and attract jobs for residents," Santoni said. "State residents should reasonably expect the legislature to look at all potential revenue sources available to close the massive budget gap we are facing. Using this potential funding stream to ensure a balanced budget for one or two years may be practical."
Steve Rittvo, chairman and CEO of The Innovation Group, the company that prepared the report, discussed the findings and answered questions posed by state lawmakers.
Rittvo said the addition of table games like blackjack, poker and roulette in Pennsylvania casinos would allow the gaming industry to realize its full potential and enable the state to compete with surrounding states that either have games or are in the process of considering table games, including New Jersey, West Virginia Delaware, New York and Ohio. He said table games would create more than 16,000 new jobs and create a $1 billion economic output annually for the Commonwealth. He estimated approximately $3.2 billion in gaming revenues annually when all 14 licensed casinos are firmly established in the state.
The committee has before it legislation (H.B. 21) that would permit table games at Pennsylvania's licensed casinos. Licensees that implement table games would pay a $10 million fee and $500,000 annual renewal fee. Revenues derived from the games would be sent to the state's Property Tax Relief Fund to reduce school taxes. A local share assessment of 2 percent for host municipality and county projects and a 1 percent assessment for agriculture-related programs also are part of the bill.
Santoni said his committee will continue to review the merits of House Bill 21 and the impact of allowing table games in the state.
"It is wise for Pennsylvania to look at any and all realistic proposals that create jobs, raise revenues and boost the state's tourism industry, whether it is to temporarily close the budget gap during this tough economic time or continue to reduce the property tax burden for homeowners," Santoni said.
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