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Big Mistake at Greenwood Gaming and Entertainment Costs $1.1 Million

Some mistakes are minor, and some are earth shattering. Such is the case for Greenwood Gaming and Entertainment.

The company intended to support the development of their state of Pennsylvania, but the Parx Casino flubbed and donated $1.1 million more than intended.

The error was not rectified, and the state is richer by this amount. The case even went to court and lost. Disputes must be filed promptly within three years and Greenwood was a bit late in meeting the deadline.

Judge Kevin Brobson just made the final decision.

“As reflected in the Court’s Memorandum Opinion, we sided with … Commonwealth’s position and held that Taxpayer’s petition for refund was untimely.”

Who is to blame?

Someone has to be held responsible. The numbers crunchers at Parx who made the mistake while calculating the tax ramifications of the donation are clearly at fault. Their miscalculations of gross gaming revenue from slots resulted in a huge bonus cash grant to the Keystone State.

Such errors go back for years but it was in 2014 that the lax accountants really hit bottom.

Nonetheless, Greenwood intends to expand its presence in Pennsylvania and has already opened a sportsbook at Parx to the tune of $10 million.

It intends to secure gambling licenses for the South Philadelphia Turf Club and the Valley Forge Turf Club.

Another $8 million will be dedicated to a satellite venue in a soon-to-be-announced location in Shippensburg Township. It wants to avoid sinkholes to avoid any money disappearing into nowhere. Ha!

Source: https://calvinayre.com/2019/10/01/casino/parx-casino-mistakenly-gives-pennsylvania-1-1-million-state-keeps-it/

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About the author

Carol Kay

Carol Kay

Carol Kay is an American editor and writer living in California with a background in business and finance, health and fitness and popular culture. She is the author of numerous books and articles on a variety of subjects. She is dedicated to disseminating information of public import on the internet.

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