PGCB concludes Category 4 casino auction
The Pennsylvania regulator said that no bids were received at the Category 4 casino auction on Wednesday.
US.- The Pennsylvania Gaming Control Board (PGCB) has reported that it received no bids on Wednesday at its auction to reserve the opportunity to apply for a Category 4 Satellite Casino licence. The auction process concluded with no bids yesterday.
Established by the Act 20 of 2019, the PGCB has to conduct up to five auctions for the remaining Category 4 Slot Machine Licences. Bidders for the casino can only be current holders of Pennsylvania casino licences. The Act also directed that no further auctions are to be conducted if an auction fails to generate a bid, PGCB explained.
A gaming expansion from 2017 established that the PGCB was authorised to liv up to 10 licences through an auction process. Five successful auctions resulted in US$127 million in bids, and two of the projects have received approval for construction. Mountainview Thoroughbred Racing Association received approval to build a satellite casino in Caernarvon Township, Berks County, while Stadium Casino received a licence to construct a satellite casino in Hempfield Township, Westmoreland County.
Moreover, three projects submitted applications, and their final award is still pending.
Pennsylvania experiences revenue rise in July
Total gaming revenue was US$281.4 million, which is 1.13% higher than what was recorded in July 2018 in Pennsylvania.
Gross revenue from slot machines was US$199.6 million, representing a 2% fall in revenue when compared to the US$203.6 million generated in 2018. Tax revenue from the slots was US$102.7 million.
As reported by the PGCB, the average number of slot machines operating in July was 24,671, down by approximately 1,000 when compared to the 25,641 from July 2018.
