The Latest: Governor expects revenue from gambling expansion

HARRISBURG, Pa. – The Latest on Pennsylvania’s governor signed legislation to expand casino-style gambling in Pennsylvania (all times local):

2:15 p.m.

Pennsylvania’s Democratic governor says gambling expansion legislation he just signed won’t cannibalize existing tax collections from the industry.

Gov. Tom Wolf also said Monday that the state needed revenue to help prop up its operating budget and that there was pressure to expand gambling.

The bill makes Pennsylvania the fourth state to allow online gambling while letting the struggling state lottery take its games online. It also lets Pennsylvania’s 10 largest casinos bid on licenses to operate new, smaller casinos.

The gambling proposal passed last week in the Republican-controlled Legislature. It aims to produce about $200 million annually from casino license fees and taxes on higher gambling losses.

Pennsylvania casinos rake in more gross revenues than any other state except Nevada. Pennsylvania is the No. 1 state in tax revenue from the casino industry, netting $1.4 billion in the most recent fiscal year.

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1 p.m.

Pennsylvania’s governor has approved legislation authorizing a major expansion of gambling in what’s already the nation’s second-largest commercial casino state.

Democratic Gov. Tom Wolf said Monday he’s signed a bill that will make the state the fourth to allow online gambling. The measure also will allow the state’s 10 largest casinos to apply for the right to operate satellite casinos and put video gambling terminals inside truck stops. It also would allow gambling parlours in airports.

The gambling legislation aims to produce about $200 million annually from casino license fees and taxes on higher gambling losses.

Pennsylvania casinos rake in more gross revenues than any other state except Nevada. Pennsylvania is the No. 1 state in tax revenue from the casino industry, netting $1.4 billion in the most recent fiscal year.

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This item has been corrected to show that the 10 largest casinos could try to open satellite casinos, not that there are 10 casinos in the state.