Pennsylvania Gaming Control Board approves the 8th location for sports betting

Greenwood Gaming turned out to be the winner from this decision, as they got permission from the board. They now have the right to offer sports betting to their guests in their off-track betting establishment, Valley Forge Turf Club.

Parx Casino’s parent company is none other than Greenwood Gaming. NetEnt Americas and GAN got approval for Interactive Gaming Manufacturer Conditional Licenses.

The decision from the regulatory board makes this the second location in Valley Forge which allows gamblers to engage in sports betting. According to the Gaming Control Board’s spokesman, Doug Harbach, both establishments will be open to placing wagers on games in the coming weeks.

FanDuel, an emerging leader in sports betting also benefited from this decision by the board. The parent company of this business, Betfair Interactive US, got approval from the regulatory firm.

Although FanDuel got the green light, gamblers won’t be able to use mobile sports betting until June or July. All the casinos in the state of Pennsylvania are on the same boat, due to the federal government’s recent opinion on the Wire Act.

Known as Conditional Sports Wagering Operator License, FanDuel can now offer sports betting legally. They have a partnership with Valley Forge Casino Resort, owned by Boyd Gaming. As part of the deal, they can provide these services both online and offline to customers.

As the gambling establishment is only 20 miles away from downtown Philadelphia, it will attract a large number of people. The city already has four retail sportsbooks, making it a popular destination for gamblers.

Although Valley Forge got permission from the regulatory board, their partner FanDuel had to wait for a couple of months to obtain approval. The casino paid US$ 10 million in November, as part of the process to acquire the permit from the regulators. Five other establishments have done the same so that they can benefit by offering sports betting.

High turnover from sports betting

According to the Pennsylvania Gaming Control Board, the state has been benefiting from sports betting. The latest data from the regulatory body shows that Pennsylvania earned close to US$ 50 million from these types of wagers. As a result, they made US$ 886,000 and US$ 52,000 in state tax and local tax revenue respectively.