Parx Casino Set To Launch PA Sports Betting This Year
According to a statement issued by UK-based software developer GAN, the Parx Casino may be the first Pennsylvania sportsbook to open its doors.
On Monday, GAN revealed that it would be partnering with Parx to provide its SBTech-powered sports betting solution to supply sports wagering services to the casino.
“By leveraging GAN’s platform, Parx Casino will have the opportunity to launch retail and online regulated sports betting together with online gaming in Pennsylvania later this year, subject to the regulatory approval of the PGCB,” stated GAN.
High Cost Of Entry
Aside from Churchill Downs announcing its plans to enter the Pennsylvania sports betting market via the purchase of Presque Isle Downs, operators in the state have been relatively quiet regarding their intentions. Though the Pennsylvania Gaming Management Board (PGCB) began accepting applications on May 31st, there have yet to be any petitions for sports wagering licensure.
It has been speculated that the uncertainty regarding the market is due to the exorbitant licensure and tax fees. Operators applying for a sports wagering certificate must pay a $10 million licensing fee and a 36% tax rate.
Dan Shapiro, VP of enterprise improvement at William Hill USA, expressed that “with a 36 percent tax and a $10 million license fee, there are other states that are more interesting to us.”
What Happens Next?
The industry may be slow coming, but PA lawmakers anticipate a “domino effect” once casinos begin to apply for licensure. State Representative Rob Matzie, (D., Allegheny) expressed that it’s only a matter of time before the PA sports betting market becomes saturated.
“For these casinos, competitors is all the things,” stated Matzie. “If the Sands in Allentown decides to do it, or the Rivers in Pittsburgh, or the SugarHouse in Philadelphia, then abruptly everybody will fall in line, and so they’ll all wish to be a part of that.”
The actual launch date of the Parx sportsbook has not been announced, however, we do know that football season is one of the most lucrative times of the year for operators. Sportsbooks in nearby West Virginia hope to launch by the Thursday, September 6th Atlanta Falcons vs. Philadelphia Eagles NFL opener. Delaware and New Jersey sportsbooks are already up and running.
The Parx will want locals putting money on the game at their sportsbook, rather than sending them (and their wallets) across state lines. In case the betting lounge is not up and running, residents can still use online sportsbooks to bet on sports.
Eagles fans will not want to miss the chance to bet on the reigning Super Bowl Champions as they kick off Week 1 of NFL football. Bovada has the Atlanta Falcons at Philadelphia Eagles betting line posted, with the Eagles favored by 4 points. The game total is set at 46.5 points.