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NYX GAMING GROUP LTD 11 PCT DEBS V.NYX.DB



TSXV:NYX.DB - Post by User

Post by caribbeankingon Mar 01, 2017 1:46pm
169 Views
Post# 25913537

incase u did not hear

incase u did not hearpennsylvania with a population of 12,800,000....

The hearing regarding an expansion of gambling in the commonwealth is taking place on Tuesday, March 7, at 2 p.m.
 
It will involve members of both the Senate Community, Economic & Recreational Development Committee and theHouse Gaming Oversight Committee. Those are the two committees through which all gambling bills flow.
 
That the PA legislature had been trying to schedule such a hearing has been known for sometime.
 
A notice from the CERD Committee noted the hearing’s purpose is to “gather information regarding any House/Senate suggested Title 4 changes, gaming expansion options from the previous and current sessions…”
 
The hearing will also include “stakeholders from the Gaming Industry,” per the notice.
 
While online gambling is not directly mentioned, it is likely to be one of the cornerstones of any gambling expansion that takes place in the state. The topic of daily fantasy sports could also be touched upon in the hearing.
 
Where the conversation on PA online gambling stands
 
The news has mostly been good for online gambling in Pennsylvania, of late:
 
Gov. Tom Wolf included what appears to beonline gambling revenue is his budget, and also discussed the topic in a recent interview.The first of several planned gambling expansion bills includes online gambling.Lobbying against iGaming is not gaining any traction (paywall)The state could still use online gambling money
 
Pennsylvania is still in the middle of a massive budget crisis. The state is running behind billions of dollars in the current and following fiscal years, unless spending cuts take place ornew revenue is generated.
 
Online gambling would certainly help on the latter point. A recent white paper indicates the market for online poker and gambling could exceed $360 million by 2022.
 
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