Parx Casino Applies For PA Online Gambling License

Parx Casino Applies For PA Online Gambling License

Parx Casino applies for PA online gambling

The Pennsylvania Gaming Control Board began accepting Interactive Gaming Operator licenses on June 4th, but it wasn’t until Friday that Greenwood Gaming and Entertainment, owner of Parx Casino, became the first operator to apply for a license in PA.

The revelation came just days before a Monday deadline for casinos to apply for a comprehensive $10 million license that covers online poker, online table games and online slot machines.

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Taxes not included

In addition to the $10 million license fee, the Parx Casino and other casinos will be subject to additional taxes.

Online table games and poker will be taxed at a rate of 16% (14% + 2% local share) while online slots will be taxed at a rate of 54% (52% + 2% local share), a rate that many say is way too high.

More license applications on the way?

Parx wasn’t the only casino applying for a license on Friday. Joining Parx in submitting applications was the Poconos’ Mount Airy and the Stadium Casino, which is yet to be built in Philadelphia. There could still be additional casinos that apply for licenses before the Monday deadline.

After Monday, Pennsylvania will limit applications to individual product licenses, which will be available for $4 million per license. Given a $12 million total price tag of the three individual — versus $10 million for the comprehensive license — there is a sizable incentive for casinos to get in before the deadline.

Should the casino licenses go unclaimed by Pennsylvania’s 13 casinos after an additional 30 day window starting Monday, the remaining licenses could be opened up to other companies.

Parx reigns supreme in PA

The Parx Casino, which also operates a popular race track, is widely considered to be the top casino in Pennsylvania. The casino generated the most slot revenue in Pennsylvania during fiscal year 2017/2018 by a sizable margin while also generating the second-most table game revenue, behind only Sands Casino Resort in Bethlehem.

After initially lobbying against online gambling in the state, the Parx Casino — as the first online gambling applicant — now appears to be jumping into online gaming with both feet. In 2015, the casino launched a free play casino with software company GAN, the same platform provider that will be working with Parx on their real money gambling product.