The official revealed that his budget proposal includes a millionaire gaming expansion.
US.- Tom Wolf, Pennsylvania’s governor, announced that he included a US$250 million expansion in his budget proposal for next fiscal year. The Democratic governor presented his ideas to the Pennsylvania General Assembly.
Even though the announcement sounds good for the industry, this isn’t the first time that Wolf introduces an expansion in his budget: a measure was included in the 2016-2017 budget plan, but it was later rejected, but there is still a few months left before the current fiscal year ends. The governor is hopeful that the package that includes the legalisation of the online gambling industry will pass. Whilst Pennsylvania is currently facing a US$3 billion budget deficit, this year the proposal could face an optimistic future since Wolf announced that his budget includes US$100 million produced by the gaming expansion, along with an extra US$150 million fund collected in those twelve months.
“As part of the final 2016-2017 budget agreement, the legislature committed to enacting a gaming expansion proposal that would generate $100 million in the current fiscal year. This commitment continues to be reflected in the 2017-2018 budget, which further proposes an additional $150 million in revenue from gaming expansion for the budget year,” Wolf said. Hearings to discuss the plan will start on February 21, and it is estimated that they will last at least five months.
The Pennsylvania Gaming Control Board announced that the total revenue from table games in Pennsylvania increased 5.6 percent in January. While the 12 state casinos reached a record, Mohegan Sun Pocono and Mount Airy Casino Resort experienced a fall in table games revenue. State wide revenue from slot machines and table games in 2016 totaled US$3.2 billion, the biggest number reached in 10 years, and the sixth straight year that it passes the US$3 billion mark.