Pennsylvania's Parx Casino Readies For Regulated Online GamblingJuly 24, 2014 4:14 pm
Pennsylvania moved one step closer towards regulated online gambling, after the state’s Parx Casino launched a simulated online gaming site, with an eye on switching over to real money gaming when the opportunity arises. The partnership agreed between The Parx Casino and gaming developer GameAccount Network (GAN) will initially offer free play casino slots nationwide, and is expected to be live by the last quarter of 2014. Commenting on the collaboration, Greenwood Entertainment and Racing’s chief technology officer (CTO), which owns Parx Casino, said:
“GameAccount has demonstrated its regulated gaming capability in New Jersey and the merits of simulated gaming when integrated with a casino management system. By deploying its system on-property, Parx Casino will have the opportunity to launch simulated gaming nationwide before year’s end and be well prepared in the event regulation of real-money internet gaming emerges in the state of Pennsylvania.”
Previously, Pennsylvania’s Senate Community, Economic and Recreational Development Committee was ambivalent on the issue of online gambling, but state legislators adopted a more positive approach to the issue after a study released in May inspired State Senator Kim Ward to alter her neutral stance.
According to the report entitled “The Current Condition and Future Viability of Casino Gaming in Pennsylvania,” online gambling could help generate $184 million in revenues for The Keystone State in the first year, rising to $307 million thereafter, with online poker accounting for $77 million of revenues in year one and $129 million once the iGaming market had been established.
As Ward commented after details of the report was released: “Internet gaming, pensions and liquor are the big issues on our plate. iGaming hasn’t been there in the past, but now that this looks like it could be a source of income it will probably become a prominent part of the discussion.”
Already Pennsylvania has surpassed neighbouring New Jersey as the USA’s second biggest casino resort and last year generated $3.1 billion in revenue and $1.4 billion in state taxes, compared to New Jersey which in 2013 saw revenues drop 45% to $2.9 billion from its 2006 peak of $5.2 billion. Pennsylvania’s potential entry into online gaming could therefore represent yet another blow to NJ’s deteriorating gambling industry.