Mount Airy #1, LLC High Bidder at Third Category 4 Casino Auction

HARRISBURG, Pa., Feb. 8, 2018 /PRNewswire-USNewswire/ -- The Pennsylvania Gaming Control Board today held the third in a series of auctions in a process that establishes the order in which the winning bidders select a location for a Category 4 casino.

In today's public bid opening, in which 3 bids were received, Mount Airy #1, LLC which operates the Mount Airy Casino Resort in Monroe County, was the high bidder with a bid of $21,188,888.88.

The center of the Category 4 location, which is an area 30 miles in diameter, chosen by Mount Airy #1, LLC is located in the City of New Castle in Lawrence County.

Mount Airy #1, LLC is required to pay the bid price to the Commonwealth within two business days, and then has up to six months to submit an application for the Category 4 Slot Machine License.

The application will contain the precise site of the proposed Category 4 casino, as well as detailed plans and information concerning the proposed building plan, amenities, employment projections and other related information. Once the application is received and determined to be complete, the Board will post public information about the project on its website for interested persons to review.

A Category 4 Slot Machine License would permit the entity to operate between 300 and 750 slot machines. The entity could also petition for permission to initially operate up to 30 table games for an additional fee of $2.5 million with the capability of adding an additional 10 tables games after its first year of operation.

The results of the first two auctions:

• 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 located 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 located in Derry Township in Westmoreland County.

The Gaming Control Board plans to hold its next public auction on Wednesday, February 21, 2018 at 10:00 a.m. in its Harrisburg Public Hearing Room in Strawberry Square. The auction will be streamed live from the Board's web site. Subsequent auctions are planned every two weeks thereafter on Wednesdays at the same time and location.

Mountainview Thoroughbred Racing Association, Stadium Casino, LLC and Mount Airy #1, LLC  are ineligible to bid on additional Category 4 locations at the upcoming auction and during the others held in the initial round of auctions. The Gaming Control Board could hold a subsequent round if all 10 available licenses are not auctioned off. If that occurs, successful bidders in the initial round could compete for additional Category 4 casino locations.

Additional information on the Category 4 auction process is available on the Board's web site at www.gamingcontrolboard.pa.gov.

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
(717) 346-8321  

SOURCE Pennsylvania Gaming Control Board

Related Links

http://www.gamingcontrolboard.pa.gov