PENNSYLVANIA CASINO ASSOCIATION TO LAUNCH STATEWIDE 'BET ON PA' RADIO CAMPAIGN SEEKING PUBLIC SUPPORT TO KEEP TABLE GAME FEES AND TAXES LOW

PHILADELPHIA, Oct. 2 /PRNewswire-USNewswire/ -- Four of the Commonwealth's largest casinos - The Rivers, Sugarhouse, Foxwoods Philadelphia, and The Mount Airy Casino Resort, today issued a joint statement responding to yesterday's House Rules Committee vote setting a $20 million license fee for table games:

"Each of our casinos has paid a $50 million license fee for slot machines. This fee, combined with a 55% tax rate on gross revenue, has generated over $2 billion in tax relief and economic development across the Commonwealth. Our partnership with the state has been a great success, in large part, because the economics of the slots fee and tax structure makes gaming a win-win proposition for both the sate and the casinos.

A license fee for table games higher than $10 million, given the range of taxes for such games currently being debated in Harrisburg, makes table games a losing bet for both the casinos and the state.

The Innovation Group's April 2009 study concluded that a tax rate of 12% for table games would maximize revenue to the Commonwealth by insuring the greatest number of table games per facility. Our experience in the gaming industry and our analysis of neighboring states as well as an impact study of table games on slot revenue, leads to one inescapable conclusion: a licensing fee greater than $10 Million, given the tax rates currently under consideration in Harrisburg, is not economically viable for us. Simply put, higher fees and higher taxes mean fewer table games and fewer table games means fewer jobs created in Pennsylvania and fewer dollars returned to the taxpayers of Pennsylvania."

The Pennsylvania Casino Association (PCA), representing these casinos, today announced the launching of a statewide "Bet on PA" radio campaign. Radio ads will be launched in Erie, Pittsburgh, Harrisburg, Philadelphia, and Scranton starting this weekend.

PCA Executive Director Ken Smukler said, "The message of our campaign is clear: Set reasonable taxes and fees on table games and the success our partnership with the state as seen with slots will be even greater. Set these fees and taxes too high, and we jeopardize jobs, revenue and economic growth. A bet on Pennsylvania's casinos is a bet on Pennsylvania's future."

A copy of the radio ad is available for download. at http://www.houndbite.com/?houndbite=17462.

SOURCE Pennsylvania Casino Association

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