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Pennsylvania Casinos See Their Taxes Increased, Sheldon Adelson’s Sands Bethlehem Suffers Most

Pennsylvania Casinos See Their Taxes Increased, Sheldon Adelson’s Sands Bethlehem Suffers Most

Dining Table game revenue at Pennsylvania gambling enterprises will quickly be taxed two % higher, and the increase will most greatly affect the Sands Casino Resort in Bethlehem.

Pennsylvania gambling enterprises will begin paying higher soon taxes on revenues generated at their tables. Lawmakers in Harrisburg continue steadily to look for new sources of income to bridge a $1 billion spending plan gap in the state’s investing plan for the upcoming fiscal year, and gambling is enemy #1.

The legislature that is republican-controlled authorized increasing taxes on casino table games from 14 to 16 %, a seemingly modest hike that in reality will probably pay significant dividends. According to calculations, the continuing state stands to receive an additional $17 million annually from the two % bump.

The 16 percent tax price adopts effect week that is next.

‘This one kind of came out of nowhere,’ Sands Casino Resort Bethlehem CEO Mark Juliano told The Morning contact Allentown. ‘We’re not happy about. Pennsylvania is currently the highest tax environment for casinos, but we’ll deal along with it.’

Toes in the Sands

The tax increase on Pennsylvania gambling enterprises will impact that is most the Sands Bethlehem resort. Owned by billionaire Sheldon Adelson, one of Donald Trump’s biggest financiers in the 2016 election that is presidential Adelson’s venue is the most profitable casino Continue reading Pennsylvania Casinos See Their Taxes Increased, Sheldon Adelson’s Sands Bethlehem Suffers Most