PENNSYLVANIA GAMING CONTROL BOARD Change of Control Slot Machine License Fee [38 Pa.B. 432]
[Saturday, January 19, 2008]The Pennsylvania Gaming Control Board, under 4 Pa.C.S. § 1328(d) (relating to change in ownership or control of slot machine licensee), may, at its discretion, reduce the new slot machine licensing fee required in connection with a change in control of a slot machine licensee.
While the Board recognizes that a significant fee would provide an immediate benefit to the Commonwealth, imposing too high a fee on an acquirer could cause harm to the gaming industry by jeopardizing its long term prospects. For this reason, the Board believes that the taxpayers of the Commonwealth will benefit more in the long term by fostering competition for our gaming licenses and enticing new operators who are willing to invest the capital necessary to ensure that our gaming facilities remain engines of economic growth and sources of vital revenue to the Commonwealth well into the future.
Therefore, at its December 18, 2007, public meeting, the Board adopted a $2.5 million fee to be assessed on an acquirer in connection with a change in control unless special circumstances would dictate otherwise. This fee is effective immediately.
THOMAS A. DECKER,
Chairperson[Pa.B. Doc. No. 08-123. Filed for public inspection January 18, 2008, 9:00 a.m.]
