HARRISBURG, Pa., April 4, 2018 /PRNewswire-USNewswire/ -- The Pennsylvania Gaming Control Board today approved the Change of Control of the Category 3 Slot Machine Licensee Valley Forge Convention Center Partners, L.P., operator of the Valley Forge Casino Resort in Montgomery County, to Boyd Gaming Corporation.
Under the agreement approved by the Board, the license held since March 2011 by Valley Forge Convention Center Partners, L.P. will be transferred to Boyd Gaming Corporation., a publicly traded company based in Las Vegas, NV. While body Gaming operates more than 20 casinos in the United States, it is their first Pennsylvania casino property.
The Board also included in its approval that Boyd Gaming must pay to the Commonwealth a change of control fee of $1.35 million.
A PowerPoint presentation provided by representatives of Boyd Gaming is available on the Board's web site as part of the April 4, 2018 information under the Meetings tab on the PGCB's web site, www.gamingcontrolboard.pa.gov.
The next meeting of the Pennsylvania Gaming Control Board is scheduled for Wednesday, May 2, 2018 in the PGCB's Public Hearing Room located on the second floor of Strawberry Square in Harrisburg immediately following the Category 4 Casino License auction.
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 to the Race Horse Development and Gaming Act recently approved through 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 18,000 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 www.gamingcontrolboard.pa.gov. You can also follow the agency on Twitter by choosing @PAGamingControl.
CONTACTS: Doug Harbach or Richard McGarvey
SOURCE Pennsylvania Gaming Control Board