The SugarHouse Casino became the 4th Pennsylvania casino to apply for a sports betting license when they submitted their application to Pennsylvania Gaming Control Board on Wednesday night. The move comes less than a week since Harrah’s Philadelphia became the latest casino to apply for sportsbetting in PA.
The four Pennsylvania casinos that have applied for PA sports betting so far:
- Penn National – Applied on August 17th
- Parx Casino – Applied on August 27th
- Harrah’s Philadelphia – Applied on September 25th
- SugarHouse – Applied on September 27th
Should these casinos be approved, they would be required to pay a $10 million license fee to operate retail sportsbetting as well as an online sportsbook. In addition to the $10 million license fee, sportsbooks will also need to pay a 36% tax rate, a cost that has suppressed the pace of sportsbook applications.
A recent launch in New Jersey
Although the SugarHouse is the third casino located around Philadelphia to apply to offer sports betting, it is the first casino to be located within Philadelphia.
The SugarHouse Casino was a good bet to be one of the Pennsylvania casinos to apply to offer sports betting. SugarHouse is one of eight sportsbooks currently operating in New Jersey, with online wagering under PlaySugarHouse.com launching in late August. The casino partners with Golden Nugget to offer sports betting in New Jersey.
During the last week of August, SugarHouse sportsbook was the number two online sportsbook in New Jersey, generating just over $100k in revenue with only a week reported. This was also before the start of the NFL season, the overwhelming peak of the betting season.
Keep an eye on October 31st meeting
The PGCB next meets on October 2nd but sports betting is again not on the agenda as the regulatory body focuses on online gambling and other matters. The board could end up addressing sports betting in next meeting, which is slated for October 31st. This will likely put a sportsbetting launch in November at the earliest.