Pennsylvania holds first Category 4 casino auction
As the morning of January 10 dawned in Pennsylvania, the gaming control board (PGCB) held the first of a series of auctions for Category 4 casinos. It then announced that of the four bids received, the highest came from Mountainview Thoroughbred Racing Association, the operator of Hollywood Casino at Penn National Race Course. The bid of US$50.1 million is for an area with a diameter of 30 miles in the Borough of Yoe in York County.
Mountainview Thoroughbred Racing Association, LLC, is required to pay the bid price to the Commonwealth within two business days, and then has up to six months to submit an application for the Category 4 slot machine license. The application must contain the precise site of the proposed Category 4 casino, as well as detailed plans and information concerning the proposed building plan, amenities, employment projections and other related information. Once the application is received, the Board will post public information about the project on its website for interested persons to review.
A Category 4 slot machine license would permit the entity to operate between 300 and 750 slot machines. The entity could also petition for permission to initially operate up to 30 table games for an additional fee of $2.5 million with the capability of adding an additional 10 tables games after its first year of operation.
The Gaming Control Board plans to hold its next public auction on Wednesday, January 24, 2018 at 10:00 a.m. in its Harrisburg Public Hearing Room in Strawberry Square. The auction will also be streamed live from the Board’s web site. Subsequent auctions are planned every two weeks thereafter on Wednesdays at the same time and location.