Home » Game News » Pennsylvania is about to launch the latest satellite casino license auction

Pennsylvania is about to launch the latest satellite casino license auction

After the failed attempt, the Pennsylvania Game Control Board [PGCB] rearranged the auction of licenses to install satellite casinos in the state. The casino license will be category 4, representing the last of 10 satellite projects approved by Pennsylvania Governor Tom Wolf through the expanded gaming law about three years ago.

The auction, which will be held on September 2, will continue where the company representing Mount Airy Casino leaves the auction house. This hotel in Mount Pocono received the third satellite casino license in Pennsylvania in 2018 and plans to install a game room at Big Beaver Borough, about 30 miles from Pittsburgh.

But after the game operator struggled to find the necessary funds to develop the project, the deal was broken.

According to the PGCB guidelines, "The entities eligible to participate in the auction are any slot machine license holders in Pennsylvania, as well as those who have ownership of slot machine licenses."

The regulator also pointed out that “in auctions, bidders must submit a category 4 reserved position, which will be fixed coordinates [center point], with a radius of 15 miles, forming a 30-mile circle.”

It added: "The geographic center must be part of the offer made in the auction. In addition, in any existing or planned category 1, 2, 3, or 4 licensed facility or previously established category 4 reserved location , The reserved position circle must not be within 40 linear miles."

The satellite casino development project was originally aimed at increasing the number of operators in the state. However, this idea is much more complicated than expected, and the state auctioned only four licenses. Then withdrew from Mount Airy and canceled the fifth auction because no operator bid.

Pennsylvania subsequently decided to revise its policies and modify the tender rules so that existing licensees can also participate. It was at this moment that the Pennsylvania National Game Company entered the game.

Game operators have opposed the state's expansion of the participation of more operators. But later, it realized that its battle was futile and eventually succumbed. In a strategic shift, it also decided to participate and try to obtain an auction site license. This is the first way satellite satellite casinos have won auctions.

Then, after revising the rules and bidding for Berks County, he obtained a second permit. One year later, due to covid-19, neither site was able to resume construction work, and there was no exact date to complete the development of the project. The other two gaming venues with satellite casino licenses are Parx Casino and Stadium Casino.

Resources: https://calvinayre.com/2020/07/09/casino/pennsylvania-readies-another-satellite-casino-license-auction/

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Name *
Email *
Website