Casinos in Pennsylvania reopened Monday morning after a three-week shutdown ordered by Gov. Tom Wolf over COVID-19.
But that was not the only big news for Pennsylvania casinos on Monday morning.
Bally’s has announced plans to build a $ 120 million mini-casino near Penn State University. The company said it had signed a framework agreement with Ira Lubert, a real estate and private equity investor, to jointly design, develop, construct and manage the Category 4 licensed casino. The Pennsylvania Gaming Control Board recently granted Lubert the right to apply for a Category 4 slot machine license for a casino located within a 15-mile radius of Unionville, Center County.
In September, the Pennsylvania Gaming Control Board announced that, according to the Associated Press, Lubert had knocked out another bidder for the license with a $ 10 million bid. Lubert was qualified to bid because he is a partner at Rivers Casino Pittsburgh and he does not have to name an exact location before submitting formal paperwork, which is required in March, the AP reports.
Bally’s did not provide the exact location for the planned casino, but only announced that it will be near the Nittany Mall in State College. A Bally’s spokesman said the company could not provide the specific location for the planned casino at this 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 related to the project.
Bally’s said construction of the casino is expected to begin in the first half of this year and it will take about one year to complete, subject to receipt of all applicable regulatory approvals.
The casino plans to house up to 750 slot machines and 30 table games, and also offers retail bets, online sports bets and online games.
“Expanding our fast-growing, national footprint to the attractive Pennsylvania market is another major milestone for Bally’s and an excellent way to end an extraordinary year,” said George Papanier, President and CEO of Bally’s , said in a press release.
Bally’s owns and operates 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 owns a horse racing track and 13 authorized OTB licenses in Colorado.
Following the completion of pending acquisitions, which include Tropicana Evansville in Evansville, Indiana, Jumer’s Casino & Hotel in Rock Island, Illinois and MontBleu Resort Casino & Spa in Lake Tahoe, Nevada, as well as construction of the new casino near Penn State University will own and operate 15 casinos in 11 countries.
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