PGCB to Consider Mini-Casino Location
SC Gaming Op Co., LLC has plans to create a new mini-casino at the Nittany Mall and need approval from the Pennsylvania Gaming Control Board.
Since 2017, the state of Pennsylvania has been working on launching satellite casinos. Also known as mini-casinos, these venues offer a small selection of slots and table games. Operators were able to take part in auctions to be selected as the license winner based on their bids. So far, there are still several licenses that have yet to be put to use due to the need for approval on construction sites. For SC Gaming Op Co., LLC, the Pennsylvania Gaming Control Board will be hosting a hearing in August to consider a location for the property at the Nittany Mall.
Bally’s would like to create the category four venue at the Nittany Mall in a former Macy’s location. The hearing set for next month will give consideration to this location and will take place at the Penn Stater Hotel and Conference Center.
During the hearing, individuals will be able show support or opposition to the project. It will also be a time for residents to learn more about what Bally’s has planned for the property. Anyone can choose to attend the event and offer testimony. The same can also be done online.
More information on the upcoming project will be made available online on July 21. This will include details on the project and how to register for comments during the meeting. The deadline to submit information to be allowed to testify is August 12.
A separate hearing will be held publicly later on for SC Gaming Op Co., LLC to send representatives to discuss the project. The Office of Enforcement Counsel of the Board will also be on hand to discuss if a license should be provided or not.
The New Casino
The new venue is expected to offer 750 slots and 30 table games. Retail sports betting may also be an option if the property is approved for separate licensing and certification. Online gaming and online sport betting also under consideration. The property will provide additional entertainment and restaurant services as well.
SC Gaming Op Co., LLC is working with Bally’s Corporation to complete the project. Ira Lubert, an investor, is the one who earned a license for the property after paying $10 million during an auction in September 2020.
Bally’s announced in early January that it was working with Lubert to create a new mini-casino valued at $120 million. It was not until March, that SC Gaming submitted an application and impact report that showed the former Macy’s building as the home of the new casino.
Bally’s and SC Gaming will work together to design, develop, and construct the property. Once the project is complete, the two will also work together to manage the property. It is expected that the new casino will bring in $91 million during the first year it is open and over $110 million by the 10th year.
Once opened, the casino will employ just under 400 individuals and this number will increase over the years. It is expected that the local township will see over $120 million in direct and indirect support from the casino.
The host municipality and the county both earn 2% of the slot revenues from the casino and a 1% cut from table games and any retail sports betting operations. This amount could be as much as $2 million by the time the property reaches stabilization. It will be interesting to see how the property fares if it is approved and becomes operational.