Pennsylvania Table Games a Reality

Finally, table games are a reality in Pennsylvania - Gov. Ed Rendell signed the compromise bill into law today.  Here are some key points:

• fees: $16.5 million for large casinos, $7.5 million for new resort casinos
• 250 table games for large casinos, 50 for resorts
• splits: 16% state/84% industry for year 1, 14% state/86% thereafter
• $3 million for problem gambling fund
• resort casinos allowed 100 more slot achines (max. 600)
• state will allow a third new casino license (two more licenses are still open from 2004 legalization bill)
• new ethics rules for PA GCB & casino employees

Quick & dirty analysis:

• Pennsylvania took a major step towards mid-Atlantic gaming supremacy today
• the fees & splits are industry-friendly for the labor-intensive table games (read: low profit margins)
• $$ towards problem gambling fund is admirable
• limitation on numbers of table games is problematic, but not overly-restrictive
• after almost five months of legislative back-and-forth, PA leaders did the right thing by legalizing table games in a way that will grow the state's gaming industry, create many well-paying jobs and contribute substantial revenue to the state govt. & local governments