As reported by: American City Business Journals
Pennsylvania's effort to become a major gaming venue has been slow and fraught with politics and conflict. As expected.

Yet by the second half of 2006, Pennsylvania could have the second-largest concentration of slots in the country, with 61,000 machines, trailing only Las Vegas. Legislation signed into law by Gov. Ed Rendell on July 5 allows for 14 casinos: seven racetrack casinos, five stand-alone slot parlors and two resort-hotel casinos.

Philadelphia and the surrounding region will have four venues, including two racetrack casinos and two slots parlors.

Statewide, revenue from casinos is expected to one day total $3 billion a year, of which $1 billion would come back to the state in taxes. The tax windfall, in turn, is expected to lower household property taxes by an estimated $200 to $300 a year, Rendell has said.

Licenses for the casinos are not expected to be finalized until 2006. The first casinos might open by late that year.

Delays have already resulted from the selection of the seven-member Pennsylvania Gaming Control Board, the regulating body that will oversee casino development and operation. Selection of board members was beset by debate over ethical concerns about two nominees. Members were subjected to background checks conducted by the Pennsylvania State Police with assistance from the state Attorney General.

Philadelphians can take solace in the fact that the board is heavy with local influence.

The gaming commission, which took months to establish, includes Philadelphians Thomas "Tad" Decker, who chairs the board, is former managing partner of the law firm Cozen O'Connor and a board member at the Delaware River Port Authority. Other locals include Court of Common Pleas Judge Mary DiGiacomo Colins and Temple University Health System Chairman and CEO Joseph W. "Chip" Marshall III.

Board members will be paid $145,000 a year, while the chairman will collect $150,000.


Article By: American City Business Journals