No Bids Received Today at Pennsylvania Gaming Control Board's Category 4 Casino Auction

HARRISBURG, Pa., April 18, 2018 /PRNewswire-USNewswire/ -- The Pennsylvania Gaming Control Board announced today that a determination on holding an "additional auction round" for Category 4 casinos will be announced at a later date after today's auction concluded with no bids being received.

The State's Gaming Law establishes that if an auction within the second round of auctions fails to generate any bids, the board may, in its discretion, determine if it is in the best interests of the Commonwealth to conduct additional auctions at which any Category 1, Category 2 or Category 3 slot machine licensee, or other qualified entity, may bid. The Board had previously made four awards in its initial round of auctions in which current Category 1 and 2 license holders could participate. Following an auction in which no bids were received, the Board gained one additional award in a subsequent round in which Category 1, 2 and 3 license holders could participate before no bids were received today.

If the board elects to conduct additional auctions, the board must first establish criteria and procedures for the qualification of entities to participate in the bidding for a Category 4 location to place a casino. Under law, a maximum of 10 Category 4 casinos could be awarded.

The results of the five auctions in which bids were received were:

• January 10, 2018: Mountainview Thoroughbred Racing Association, LLC, which operates Hollywood Casino at Penn National Race Course, was the high bidder with a bid of $50,100,000. The center of that Category 4 location is in the Borough of Yoe in York County.
• January 24, 2018: Stadium Casino, LLC, which holds a Category 2 license and will construct a casino in Philadelphia, was the high bidder with a bid of $40,100,005. The center of the Category 4 location is in Derry Township in Westmoreland County.
• February 8, 2018: Mount Airy #1, LLC which operates the Mount Airy Casino Resort, was the high bidder with a bid of $21,188,888.88. The center of that Category 4 location is in the City of New Castle in Lawrence County.
• February 22, 2018: Greenwood Gaming and Entertainment Inc., which operates the Parx Casino in Bucks County, was the awarded bidder with a bid of $8,111,000. The center of that Category 4 location is in South Newton Township in Cumberland County.
• April 4, 2018: Mountainview Thoroughbred Racing Association, LLC was the high bidder with a bid of $7,500,003. The center of the Category 4 location is in West Cocalico Township in Lancaster County.

About the Pennsylvania Gaming Control Board:

The Pennsylvania Gaming Control Board is tasked to oversee all aspects of the state's casino industry, along with oversight of new gaming initiatives created through amendments to the Race Horse Development and Gaming Act recently approved by the signing of Act 42 of 2017.

The Commonwealth's casino industry currently consists of 10 stand-alone and racetrack casinos in operation, along with the two smaller resort casinos.  These facilities collectively employ 17,000 people and annually generate approximately $1.4 billion in tax revenue from slot machine and table games play. The largest portion of that money is used for property tax reduction to all Pennsylvania homeowners.

Additional information about both the PGCB's gaming regulatory efforts and Pennsylvania's gaming industry can be found at gamingcontrolboard.pa.gov. You can also follow the agency on Twitter by choosing @PAGamingControl.

CONTACTS: Doug Harbach or Richard McGarvey
(717) 346-8321  

SOURCE Pennsylvania Gaming Control Board

Related Links

https://www.gamingcontrolboard.pa.gov