Colin McNickle: Gambling revenue rebounds
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There is a resurgence in state-sanctioned gambling in Pennsylvania. The state and local governments depend heavily on gaming revenues. In 2020, the severe truncation of gambling activities will cut deeply into gaming proceeds. The pandemic has shown what can happen when the activity is affected. It is not clear if the growth of online gambling will continue in post-pandemic Pennsylvania, as the data shows. There are questions about the effects of gaming itself. it is heavily dependent on tax revenue.
The drop in gaming revenue in 2020 was only 22%, thanks to the jump in online gambling revenue. The decline could have been much larger, but the loss of tax revenues was made up by the federal government. Pennsylvania should not count on the gaming industry to sustain its economy or keep its tax coffers full.
