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Stadium Gaming LLC Pays $40.1m For Satellite Casino License

Post by Sadonna Price on -

After a gaming package was approved by Pennsylvania in October, the state has been busy preparing for several changes within their gambling industry. One new option coming to the state is satellite casinos. As many as ten mini casinos can be created in the state, with the licensing process already in full swing. Earlier their month, Penn National gaming earned the first satellite casino license with an auction bid of $50.1 million. This week, Stadium Gaming LLC was the winner of the license auction, submitting the highest bid at $40.1 million.

The process of obtaining a satellite casino license in the state requires existing operators to take part in an auction. Companies must bid at minimum $7.5 million to be considered. The bid by Stadium Gaming LLC won, out of four bids received this week.

In their bid, Stadium Gaming choose Westmoreland County as the location for their mini casino project, within the Derry Township as the target point for construction. The location is about 40 miles east of Pittsburgh. The company is not currently operating in Pennsylvania but are going to be operating a casino in Philadelphia, the Live! Hotel Casino Philadelphia. The casino is now able to move on with construction after a lawsuit against the project was dropped last November by SugarHouse Casino.

The auction process will now cease until February. The Pennsylvania Gaming Control Board will be hosting two auctions per month through May. With each auction, operators can bid to be the winning license holder, with the highest bid earning the gaming license for a Category 4 casino.

With two licenses having been awarded, the state has already earned more than $90 million. We shall see in the coming months how much more will be bid during the auction process as 8 more licenses are still up for grabs.

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