Pennsylvania kicks off mini-casino auctions
Pennsylvania State has started auctions for 10 mini-casinos.
US.- In a bid to gather further funds to boost the state’s economy, the government of Pennsylvania revealed that this week they have started the auctions of casino licenses. As reported by the official press, gaming and legal authorities are preparing the auction of 10 mini-casinos licenses.
Yesterday morning, the Pennsylvania Gaming Control Board has published the bids for the casinos. The Morning Call has shared the oficial schedule to proceed with the auctions:
- Bidders arrive for 10 a.m. Wednesday Pennsylvania Gaming Control Board meeting.
- Bidders submit two envelopes. One holds the company’s bid price, which has to be at least US$7.5 million. The second identifies which county the mini-casino would be located.
- Bid envelopes for the first mini-casino will be opened and the highest bidder announced. Then, the planned casino’s general location will be announced.
- The winning bidder has until Thursday to turn over the money and then six months to inform the agency the exact location of the mini-casino. The winner can submit another US$2.5 million for a table-game license.
- Nine more auctions, with one winner announced at each, will be held from Jan. 24 to May 16.
- The state budget assumes all 10 mini-casino and table-game licenses will be sold, generating US$100 million in tax revenue.
