The Pennsylvania Gaming Control Board (PGCB) unanimously allowed for the building of a new satellite gaming venue in Pennsylvania. The new gambling venue will be owned by Penn National Gaming and is estimated to be worth $120 million, inclusive of the licensing fee which is $50.1 million.
During the presentation on Wednesday, Penn officials explained vividly how the company planes to tackle the increased traffic around the mall. This seemed to have sat well with the PGCB officials who after the brief hearing, gave a go ahead on the project.
According to an article by the casino.org gaming and news out, Penn’s CEO gave the statement on Wednesday. After the announcement, Penn said they were honored to have received the approval, and look forward to having the new open as soon as possible.
Hollywood Casino York, as the new satellite casino will be referred to, will initially be home to not less than 500 gaming slots and 24 gaming tables. In addition, it will have a sportsbook, a restaurant, bar, coffee house and a stage set aside for entertainment.
It will occupy the space of the Sears department mall which was formerly located at the York Galleria Mall. Work at the new casino is expected to be done in 12 months after which it will employ about 200 employees on a full time basis. There were concerns on how the casino would ensure that only those who were above 21 would get into the casino.
John Finamore, who is the senior vice president of regional operations at Penn National, responded by saying the casino will have only one entrance. And it is not the entrance from the mall into the casino but a special entrance, the porte-cochere entrance.
Revenue earned from the gaming machines will be taxed at a fixed rate of 54 percent with 34 percent of the taxed amount being channeled to the Property Tax Relief Fund. The new change is that 16 percent will be taxed off every win at the table, so if a casino has say over fifty tables putting that as a constant it means 50 x 16% for each board.
Hollywood York Casino is located at an ideal position, where it is set to attract customers from both south central Pennsylvania and northern Maryland while at the same time not being a competitor to Penn’s casino at the Race Course. It was the 2nd satellite by Penn to receive approval after the Hollywood Casino Morgantown, whose construction is already underway.
This approval was in line with a gaming act that was signed into law in 2017 by Tom Wolf. The act allowed not less than 10 satellite casinos be built thorough auctioning. However, this process seemed to come to a stall after five casinos were approved.
Another satellite casino was recently approved by PGCB, the Stadium Casino LLC in Hempfield. Two other auctioneers, Mount Airy Casino and Parx Casino, are still developing their proposals.