A study on the economic impact of a new casino in Centre County forecasts revenue of more than US$100m a year.
US.- A new casino project in Centre County, Pennsylvania, will bring a major economic boost to the region, according to a study commissioned by Ira Lubert, the investor who won the bid to develop the casino in a partnership with Bally’s Corporation.
While the project is still at the planning stage and needs final approval from the Pennsylvania Gaming Control Board, expectations are increasing about the new venue’s impact in the county.
The new casino will be located at a former Macy’s store site in the Nittany Mall. It’s expected to have 750 slot machines and 30 table games. It will also provide, if separate licenses and certificates are approved, retail sports betting, online sports betting and online gaming.
The venue will also have restaurant and entertainment facilities.
Financial projections for the new casino project
Among the highlights of the study commissioned by Lubert, the new casino would generate revenue of $91m in the first year, and more than $100m a year, after that.
The figures represent $60,000 of annual new tax revenue for Centre County.
Construction on the new casino is expected to begin later this year, with the opening set for next year.
Some are forecasting that this will be the last casino licence to be granted in the state.
Rep. Scott Conklin said to the press: “As of right now, I believe the last casino project license may be the one coming to Centre County. When you look at the saturation in the state, central Pennsylvania was the last area that really wasn’t fully occupied with individuals able to go to casinos.”
Pennsylvania recently approved a casino project in Shippensburg after Township supervisors decided to grant a conditional use permit to Greenwood Gaming and Entertainment.