Bally’s Corp has managed to strike a deal and building a new mini-casino in Pennsylvania. This coincides with the time when the existing casinos in the state are set to resume after the latest lockdown due to pandemic.
Bally’s Corp previously known as the Twin River Worldwide Holdings announced that they have signed a framework agreement with Ira Lubert, a real estate developer. Ira Luberts holds a category 4 casino license in Pennsylvania and by virtue of which it can develop, construct and manage a casino within a 15-mile radius of Unionville Borough in Centre County.
According to Bally’s Corp, the casino is expected to take a year to be built and the work would start somewhere in the H1, 2021. Once completed, it can carter 750 slot machines and 30 table games. Retail and online sports betting are also under discussion. Standard regulatory approvals and other closing conditions are pending at the moment.
The total cost of the casino would be around $120mn and Bally’s is expected to hold the majority of the share including 100% of the sports betting and iGaming.
Bally’s has been expanding over the few years especially where online betting and casino products are legal. George Papanier, CEO of Bally’s said that this is a great way to start the new year.
Live! Casino Pittsburgh was the first Category 4 Casino in Pennsylvania opened in November. However, it soon had to shut down after the lockdown was announced again on December 12.
The casinos were lifted on Monday with 50% capacity for the casinos. The casinos in the Philadelphia area need to wait till January 15.
Inspirational Link: https://calvinayre.com/2021/01/04/casino/ballys-pennsylvania-mini-casino-deal-betting-igaming/
