Online casinos in Pennsylvania State are bound to expand in the coming several months in order to raise the already exceeding budget. According to many economic experts and observers, the state’s budget is likely to lack $600 million in the estimates that are effective July 2017.
For now, Tom Wolf, the governor, has estimated that for all to go well for his state, they need approximately $31.5 billion. For him, unless drastic measures are taken, such as consolidating several departments, in order to cut the impending cost, they are not going to realize the needed amount.
On its part, the General Assembly, that is controlled by the Republicans demands that more action should be taken, not mere consolidating of departments. Members feel that cutting the cost without finding an amicable way of raising the money needed to run the budget is not enough.
Mr. Wolf has been scheduled to meet with members of his cabinet in a bid to deliberate on practical ways they can raise the needed money to run the state. For now, expansion of Pennsylvania casinos might be given a priority because as things are, it is a sure way of real money casino gambling especially in these last days of 2016.
Supporters of Mr. Wolf said that if the online gambling expansion idea is fully implemented, there is a likelihood of raising even more than the estimated $31.5 billion. The blueprint suggests that over $100 million would be raised from online poker and the authorization of internet casinos popularly known as iGaming.
It Is Not Easy For Keystone
Although Wolf’s blueprint shows some light, it is still difficult to raise the amount. The Independent Fiscal Office of Pennsylvania reports that there are high chances of the state recording as high as $700 million as a deficit before July next year. If the report is anything to believe, it adds that the deficit will project to over $3 billion every year.
According to Dave Reed, the House Majority Leader, the situation is particularly disturbing because nothing has changed for half a century.
“Things have not changed in Pennsylvania for over 40 years now,” said Dave.
Apart from the idea of expanding Pennsylvania casinos, lawmakers have issued legislation that allows those casinos to sell liquor 24 hours a day thus making real as well as generate revenue to the state.
However, casino owners have shown discontent for the permits bearing in mind that the longer they are allowed to sell, the higher the revenue they will pay.
Mark Juliano of Sands Bethlehem Casino said, “We will not pay $1 million simply because we’ve been allowed to sell liquor after 2 in the morning.”
The state’s budget deficit is one thing that troubles top officials, but that is not all. There is also new legislation, which says that gaming businesses should start paying respective municipalities over $10 million every year.
In fact, the law states that gaming companies should set aside 2% of their total slot revenue per year. For now, casino owners have time to adjust because the High Court gave respective governments at least four months to amend particular clauses.