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The Pennsylvania Gaming Control Board is going to hold an auction for the right to apply for a Category 4 casino license. All current holders of a Category 1, 2 or 3 casino license in Pennsylvania are eligible to participate in this auction.
The first auction in this round is scheduled for September 4, 2019. The auction will be held in the PGCB’s Public Hearing Room located on the second floor of Strawberry Square in Harrisburg.
The Gaming Expansion Act 42 of 2017 established a minimum bid price of $7.5 million for Category 4 slot machine licenses. A separate certificate for table games can then be obtained through Board approval for a fee of $2.5 million. A Category 4 facility may have between 300 and 750 slot machines along with a maximum of 30 table games at opening with the capability of adding an additional 10 table games after its first year of operation.
Following the auction process, winning bidders must pay the winning bid amount no later than 4 p.m. on the second business day after the date of the auction. They then have up to six months to submit an application for the Category 4 slot machine license which includes an exact location of the proposed satellite casino.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Pennsylvania Gaming Control Board to Hold Casino License Auction in September
