- There are currently six sportsbooks located either inside or near the Philadelphia area.
- Live! Casino & Hotel has not yet applied for a Pennsylvania sports betting license.
- The target launch date for Live! Casino & Hotel is December of 2020.
Philadelphia – The City of Brotherly Love has been quite friendly to sportsbooks, having six already in or around the city’s area. But, will Live! Casino & Hotel get the same reception when it opens its doors in December of 2020?
Stadium Casino, LLC, the parent company of Live! Casino, expects that to be the case as they made their pitch to renew their category 2 slot machine operator’s license to the Pennsylvania Gaming Control Board (PGCB) earlier this week.
The meeting came with a full presentation of how the casino will fit into the city’s stadium district and how the retail sportsbook will fit inside the gaming facility.
“It’s not just a sports betting parlor,” said one representative of Stadium Casino, LLC, “but it provides food offerings and entertainment, as well.”
Whether or not the company intends to follow through on this plan, however, remains in question because they have several barriers to consider when trying to open a retail sports betting venue.
What Factors Will Live! Casino Have To Face With PA Sports Betting?
The first and most important factor for the upcoming casino to consider is the cost of a Pennsylvania sports betting license and the tax rate for their sportsbook’s revenue.
In Pennsylvania, the license fee is 10 million dollars off the top and the tax rate is set at 36%, the highest tax rate in the country. Live! Casino has not paid or pledged to pay for either of these qualifications.
Instead, Live! Casino has previously paid the state agency a 10 million-dollar license fee to run an online slots and table games platform in the state. Last year, they also paid over 40 million dollars for a license to open a mini-casino in the Pittsburgh area.
Another factor for the group to keep in mind is the sheer amount of competition that they would face by opening.
The stadium district is already home to the South Philadelphia Turf Club which has a retail sportsbook and online PA sports betting is expected to launch later this month.
This would give each existing location and mobile sports wagering apps enough time to build up a loyal customer base before Live! Casino even opens its doors.
Even so, Stadium Casino, LLC, believes the construction of Live! Casino is a wise investment for both themselves and for the state. During their hearing with the PGCB, ownership representatives projected a 2-billion-dollar economic stimulus to the city would come from their new gaming facility.
The group also estimated that it would generate 100 million dollars in tax revenue in its first five years of operation.
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News tags: Live! Casino | Pennsylvania | Pennsylvania sports betting
– In his career, Hasan has worked both local and state government positions—including the Attorney General’s Office in Florida. On top of being familiar with the legislative process, he has also been researching and writing on the legality of sports betting across the US. Outside of work you’ll most likely find him producing or playing music, playing sports, or working on creative writing projects. You’ll also catch him at Doak Campbell Stadium cheering on the Noles.
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