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Gaming Industry Bets on Pennsylvania

LAS VEGAS -- As reported by the Pittsburgh Post-Gazette: "As the newest entry in the circle of slot machine states, Pennsylvania could be the biggest new U.S. market for years to come, casino industry leaders said yesterday.

"Pennsylvania has some drawbacks, officials attending an annual conference higlighting the gambling industry's issues and trends said, but none that would deter companies from seeking the state's 14 available slots licenses.

"Pennsylvania will impose an unprecedented $50 million licensing fee and a tax rate of 52 percent on operators, which is higher than in most states. But industry representatives were more critical of Illinois and Michigan, which recently raised gaming taxes on already-developed casinos.

"…Frank Fahrenkopf Jr., president of the American Gaming Association, which puts on the expo, told reporters he wished Pennsylvania had adopted 'resort-style destination casinos' with table games and not just slots because they could offer more economic development potential. Pennsylvania is the only state to approve slots-only parlors, filled with thousands of machines, in addition to adding slots at racetracks.

"…Pennsylvania is the only state this year to approve a measure that will significantly affect the commercial gambling industry.

"…Industry representatives said they expect Atlantic City to be only mildly affected by Pennsylvania's move into the field…"

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