Bill to regulate online gaming introduced in Pennsylvania

Pennsylvania State Senator Edwin B. Erickson has formally introduced a bill to regulate online gaming in the Keystone State and has announced his intention to push for interactive gaming late last month.

The SB 1386, introduced by Senator Edwin B. Erickson and co-sponsored by Bob Mensch has been referred to the Community, Economic and Recreational Development Committee last Tuesday. The bill allows the state of Pennsylvania to enter into interactive gaming agreements with other US states and territories where online gambling is permitted and proposes a tax rate of 14% on Gross Gaming Revenue (GGR) payable on a weekly basis, and license fees of $5 m. Licensed online gambling websites would have to be operated under the casino licensee’s brand, “not the brands of third parties.” No site would be permitted to operate that is “identified by a brand or name that is not owned or controlled by the licensee or an affiliate of the licensee.” The requisite ‘bad actors’ section includes anyone who purchased or acquired a ‘covered asset’ used to take wagers from US residents after Dec. 31, 2006, thus excluding PokerStars from teaming up with a Pennsylvania casino. The bill also includes a provision to protect players’ funds in case of corporate insolvency. A companion online gaming bill in the House is expected to be formally introduced soon.

Source: PokerFuse and Calvin Ayre