PITTSBURGH (AP) – The Meadows Racetrack and Casino would like to go whale hunting – with a little help from state gambling regulators.
William Paulos is a principal in Cannery Casino Resorts, which owns the casino about 15 miles south of Pittsburgh. He says Pennsylvania casinos are losing out on high-rollers because they can’t deduct the cost of perks the casino uses to attract them. Such big gamblers are also known as “whales” in the casino industry.
Paulos says the state’s 55 percent tax on gross slot revenues means the casino would lose money if it spent, for example, $10,500 to fly, wine, dine and lodge some big gamblers who wound up losing $20,000 at the casino’s slot machines.
Paulos wants state regulators to let casinos deduct the cost of those perks from slot revenues before they’re taxed.
Copyright 2015 The Associated Press.
