This past Saturday, the Hollywood Casino at Penn National Race Course in Grantville, Pennsylvania became the first casino to accept a sports bet in the Keystone state.
Assisted by William Hill US, the casino had testing days this past Thursday to ensure everything was in correct order. Additional testing took place for over 10 hours this past Friday, before opening up early Saturday morning.
Owned by Penn National, they and William Hill will split profits 50/50 after expenses and all taxes are paid. Competition in the state is right around the corner as Parx Sportsbook, SugarHouse Sportsbook and Harrah’s Philly Sportsbook are launching soon.
“Penn National is excited to be the first casino to offer sports wagering in Pennsylvania. The enthusiasm around sports betting has been growing since the federal ban was repealed in May, and we look forward to providing our patrons with another great amenity to enjoy at Hollywood Casino at Penn National Race Course,” said Timothy J. Wilmott, Chief Executive Officer.
History being made. Sports Book at Hollywood Casino at Penn National-Up and running. Second of two test days by PGCB. Bets being placed and if all goes well it will open full time tomorrrow. Hollywood first to get license. @WGAL pic.twitter.com/Czvd4cU8OZ
— BarbaraBarrWGAL (@BarbaraBarrWGAL) November 16, 2018
Penn National is a reputable company, operating over 40 gambling facilities and recently purchased Greektown Casino-Hotel in Detroit from Cleveland Cavaliers owner Dan Gilbert for $300 million. They also recently acquired Pinnacle Entertainment.
To become the PA Sports Betting market, the respective outlet had to pay an up front $10 million licensing fee, a 34 percent tax on gross revenue, a 0.25 percent federal excise tax on handle, and 2 percent local share assessment tax.
Mobile betting is technically legal, however, it will not be fully offered in Pennsylvania until early 2019.
Pennsylvania possesses two storied NFL franchises in the Philadelphia Eagles and Pittsburgh Steelers, both with very dedicated fan bases. It is a safe bet that come next football season PA Sportsbooks should be a huge hit for fans and local government revenue streams.
— Andrew Maykuth (@Maykuth) December 3, 2018
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