Launch of Fantasy Sports Contests Is First New Gaming Roll-out Under Pennsylvania’s Gaming Expansion Initiative
HARRISBURG, PA: The Pennsylvania Gaming Control Boardannounced today that oversight on the play of Fantasy Sports Contests in the Commonwealth began over the weekend, the first official roll-out of new forms of gaming made legal through gaming expansion legislation.
PGCB Executive Director Kevin O’Toole says that the agency has received Fantasy Sports Operator applications from:
· StarStreet, LLC d/b/a DRAFT
· JDAD, LLC d/b/a FFPC: Fantasy Football Players Championship
· Fanduel PA LLC d/b/a Fanduel
· Crown PA DFS Inc. d/b/a DraftKings Inc.
· Boom Shakalaka Inc. d/b/a Boom Fantasy
· Fastpick.com d/b/a www.fastpick.com
Under the gaming expansion law, Pennsylvanians who are at least 18 years of age can legally participate in Fantasy Sports Contests with the above operators.
“This roll-out also marks the beginning for Pennsylvania to create new revenue through the taxation of entry fees from players registered in Pennsylvania to participate in fantasy sports contests,” O’Toole says. “Pennsylvania residents that enter Fantasy Sports Contests can know that they are participating in a fair playing environment and assured that each licensed operator meets standards set out in the law and regulated by the Gaming Control Board.”
Beginning on Saturday, April 28, 2018, the Commonwealth began applying a 15% tax on the adjusted revenues which are paid monthly to the Pennsylvania Department of Revenue for use in the General Fund.
“Pennsylvanians who already participate in Fantasy Sports Contests with any of these firms will see no difference in game play nor need to re-register,” O’Toole says. “The Gaming Control Board urges, however, that players review the eligibility guidelines on the web sites of these Fantasy Sports Contest operators prior to attempting to participate in play.”
About the Pennsylvania Gaming Control Board:
The Pennsylvania Gaming Control Board is tasked to oversee all aspects of the state’s casino industry, along with oversight of new gaming initiatives created through amendments to the Race Horse Development and Gaming Act recently approved by the signing of Act 42 of 2017.
The Commonwealth’s casino industry currently consists of 10 stand-alone and racetrack casinos in operation, along with the two smaller resort casinos. These facilities collectively employ 17,000 people and annually generate approximately $1.4 billion in tax revenue from slot machine and table games play. The largest portion of that money is used for property tax reduction to all Pennsylvania homeowners.
Additional information about both the PGCB’s gaming regulatory efforts and Pennsylvania’s gaming industry can be found at gamingcontrolboard.pa.gov. You can also follow the agency on Twitter by choosing @PAGamingControl.