Plan filed by Penn National for Almost $120 million Hollywood Casino York

After in July withdrawing a federal lawsuit filed against the Pennsylvania Gaming Control Board (PGCB) and Governor, Tom Wolf, Penn National Gaming, Inc. (PENN: Nasdaq), has filed an application for its first Category 4 satellite casino with the governmental agency of the Commonwealth.

According to the official press release…

The Wednesday announcement by the Wyomissing-based owner operator informs that Hollywood Casino York will be located in Springettsbury Township, Pennsylvania at the Galleria Mall in a space once occupied by Sears.

Gaming allotment:

Assuming the company gets the nod for licensing and building, it anticipates the construction timeline for the York gaming facility to be between 12-18 months and to open with some 500 slot machines and 20 table games.  Penn says the gaming facility is designed to eventually house as many as 750 slot machines and 40 table games.

Governor, Tom Wolf, authorized the mini-casinos, known as Category 4 casinos, as part of gambling expansion legislation signed into law on October 30, 2017.

Investment and amenities:

The parent company of Hollywood Casino at Penn National Race Course said that its nearly $120 million investment includes license fees of $52.6 million for the slots and table games.

In addition to gaming, the so-called mini-casino will include a grab-and-go eatery, a small entertainment lounge and a casual restaurant and sports bar.

Penn said that Hollywood Casino York will generate upwards of 75 construction jobs and create 200 new permanent local jobs.

Chief Executive Officer for Pen National Gaming, Timothy J. Wilmott (pictured below), said…

“We believe the York Galleria Mall, which is a well-known retail destination in York County, is an ideal site for our planned Hollywood Casino York. We explored numerous other potential opportunities within York County, but the mall’s convenient location, existing infrastructure and ample parking, as well as the support of Springettsbury Township officials and the local business community, helped cement our decision.”

According to the press release, 2 percent of the gross tax revenue from the new casino’s slot machines and 1 percent from table games will go to the township.

Wilmott said the company “has been proud to call Pennsylvania home for over 45 years,” and that they “look forward to adding hundreds of new team members in York County and becoming another economic engine for Springettsbury and the greater York business community.”

Withdrawn lawsuit:

The lawsuit filed by Penn National on January 9, 2018 – a day before bidding opened on the right to apply for the first mini-casino license -sought to overturn a portion of the governor’s 2017 expansion law. The case alleged that the gambling expansion law signed by Gov. Wolf leaves the company’s Grantville facility uniquely vulnerable to its business being cannibalized by the new mini-casinos, more so than all the other casinos in the state.

After the Berks County-based operator was awarded the state’s fifth mini-casino license on April 4, not one bid was received for the sixth license at the auction held two weeks later, which was open to owners of casinos within the northeastern state.