Pennsylvania Ready to Issue Slots

Pennsylvanians are getting ready this week to welcome the new world of slot machines and gambling to their state. After two years of crossing the T’s and dotting the I’s, they are finally ready to start issuing slot machine licenses.

The initial slot machine licenses are actually only conditional licenses; the Pennsylvania Gaming Board will then meet again in December to decide whether or not to issue permanent slot machine licenses. The state’s regulators are currently looking at five different racetracks within the state, with a sixth one to be determined in October. One of those companies trying to get permission to bring in slot machines is the country’s largest casino operator – Harrah’s Entertainment.

Once the licenses are approved residents will be able to gamble in their own backyard instead of driving to any one of the neighboring states that already have slot machines up and running. In December, they will also be looking at the casino developers’ applications, and selecting seven from the 15 to get slot machine licenses as well.

The state is expecting to receive somewhere around $3 billion a year from slot machines, with most of the state’s cut going to public schools and local tax relief. With this move, Pennsylvania will now be number three in size for commercial gambling – behind NJ and Nevada; and second in size for slot machines behind Nevada.

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