Casinos across Pennsylvania reopened on Monday morning after a three-week closure ordered by Governor Tom Wolf due to COVID-19.
But that was not the only big news for Pennsylvania casinos on Monday morning.
Bally’s has announced that it will build a $ 120 million mini-casino near Penn State University. The company said it signed a framework agreement with Ira Lubert, a private equity and real estate investor, to jointly design, develop, build and manage the licensed Category 4 casino. The Pennsylvania Gaming Control Board recently granted Lubert the the right to apply for a Category 4 slot license for a casino located within a 15-mile radius of Unionville, Center County.
In September, the Pennsylvania Game Control Board announced that Lubert won another bidder for the license with a $ 10 million bid, according to the Associated Press. Lubert was qualified to bid because he is a member of Rivers Casino Pittsburgh and does not need to quote an exact location until he sends the formal paperwork, which is required by March, the AP reported.
Bally’s did not provide the exact location for the planned casino, only announcing that it will be close to Nittany Mall at State College. A spokesman for Bally’s said the company was unable to provide the specific location for the planned casino at the time.
Bally’s will acquire a majority stake in the partnership, including 100 percent of the economic interests of all retail sports betting, online sports betting and iGaming activities associated with the project.
Bally’s said construction of the casino is expected to begin in the first half of this year and will take approximately one year to complete, subject to receipt of all applicable regulatory approvals.
The casino plans to host up to 750 slot machines and 30 table games and also offers retail sports betting, online sports betting and online games.
“Expanding our rapidly growing national footprint in the attractive Pennsylvania gaming market represents another milestone for Bally’s and a great way to end a truly extraordinary year,” said George Papanier, president and CEO of Bally’s in a press release.
Bally’s owns and manages 11 casinos in seven states, including Bally’s Atlantic City in Atlantic City, New Jersey and Dover Downs Hotel & Casino in Dover, Delaware. Bally’s also has a horse racing track and 13 authorized OTB licenses in Colorado.
Upon completion of the pending acquisitions, which include Tropicana Evansville in Evansville, Indiana, Jumer Casino & Hotel on Rock Island, Illinois and MontBleu Resort Casino & Spa in Lake Tahoe, Nevada, as well as the construction of the new casino near Penn State University, Bally’s will own and manage 15 casinos in 11 states.
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