Pennsylvania Casinos See Their Taxes Increased, Sheldon Adelson’s Sands Bethlehem Suffers Most

Pennsylvania Casinos See Their Taxes Increased, Sheldon Adelson’s Sands Bethlehem Suffers Most

Dining Table game revenue at Pennsylvania casinos will be taxed two soon percent higher, and the rise will many greatly affect the Sands Casino Resort in Bethlehem.

Pennsylvania casinos will begin paying higher soon taxes on revenues generated at their tables. Lawmakers in Harrisburg continue steadily to look for new sources of income to bridge a $1 billion budget gap in the state’s investing plan for the upcoming year that is fiscal and gambling is enemy #1.

The Republican-controlled legislature recently approved increasing fees on casino table games from 14 to 16 %, a seemingly modest hike that in reality can pay substantial dividends. According to calculations, the continuing state stands to receive an additional $17 million annually from the two % bump.

The 16 percent taxation price adopts effect next week.

‘This one sort of came out of nowhere,’ Sands Casino Resort Bethlehem CEO Mark Juliano told The Call in Allentown morning. ‘We’re unhappy about. Pennsylvania is already the highest tax environment for casinos, but we’ll deal along with it.’

Feet in the Sands

The tax increase on Pennsylvania gambling enterprises will most impact the Sands Bethlehem resort. Owned by billionaire Sheldon Adelson, one of Donald Trump’s biggest financiers in the 2016 election that is presidential Adelson’s venue is the most profitable casino in the Keystone State.

Through 30, 2016, Sands Bethle (more…)