Pennsylvania Casinos See Their Taxes Increased, Sheldon Adelson’s Sands Bethlehem Suffers Most
Dining Table game income at Pennsylvania gambling enterprises will be taxed two soon % greater, and the increase will most greatly affect the Sands Casino Resort in Bethlehem.
Pennsylvania gambling enterprises will soon begin paying higher taxes on revenues generated at their tables. Lawmakers in Harrisburg continue to look for brand new sources of income to bridge a $1 billion spending plan gap in their state’s investing plan for the upcoming year that is fiscal and gambling is enemy # 1.
The Republican-controlled legislature recently authorized increasing taxes on casino table games from 14 to 16 percent, a seemingly modest hike that in reality can pay significant dividends. Based on calculations, the state stands to get an additional $17 million annually from the 2 per cent bump.
The 16 percent tax rate switches into effect week that is next.
‘This one kind 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 tax environment that is highest for casinos, but we’ll deal along with it.’
Feet in the Sands
The tax increase on Pennsylvania casinos will impact that is most the Sands Bethlehem resort. Owned by billionaire Sheldon Adelson, certainly one of Donald Trump’s biggest financiers in the 2016 election that is presidential Adelson’s venue is the most profitable casino into