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No bids received at Pennsylvania Category 4 casino license auction

18 April 2018

(PRESS RELEASE) -- The Pennsylvania Gaming Control Board announced today that a determination on holding an “additional auction round” for Category 4 casinos will be announced at a later date after today’s auction concluded with no bids being received.

The State’s Gaming Law establishes that if an auction within the second round of auctions fails to generate any bids, the board may, in its discretion, determine if it is in the best interests of the Commonwealth to conduct additional auctions at which any Category 1, Category 2 or Category 3 slot machine licensee, or other qualified entity, may bid. The Board had previously made four awards in its initial round of auctions in which current Category 1 and 2 license holders could participate. Following an auction in which no bids were received, the Board gained one additional award in a subsequent round in which Category 1, 2 and 3 license holders could participate before no bids were received today.

If the board elects to conduct additional auctions, the board must first establish criteria and procedures for the qualification of entities to participate in the bidding for a Category 4 location to place a casino. Under law, a maximum of 10 Category 4 casinos could be awarded.

The results of the five auctions in which bids were received were:

· 10 January 2018: Mountainview Thoroughbred Racing Association, LLC, which operates Hollywood Casino at Penn National Race Course, was the high bidder with a bid of $50,100,000. The center of that Category 4 location is in the Borough of Yoe in York County.

· 24 January 2018: Stadium Casino, LLC, which holds a Category 2 license and will construct a casino in Philadelphia, was the high bidder with a bid of $40,100,005. The center of the Category 4 location is in Derry Township in Westmoreland County.

· 8 February 2018: Mount Airy #1, LLC which operates the Mount Airy Casino Resort, was the high bidder with a bid of $21,188,888.88. The center of that Category 4 location is in the City of New Castle in Lawrence County.

· 22 February 2018: Greenwood Gaming and Entertainment Inc., which operates the Parx Casino in Bucks County, was the awarded bidder with a bid of $8,111,000. The center of that Category 4 location is in South Newton Township in Cumberland County.

· 4 April 2018: Mountainview Thoroughbred Racing Association, LLC was the high bidder with a bid of $7,500,003. The center of the Category 4 location is in West Cocalico Township in Lancaster County.

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