Centre County Mini-Casino Aims For $100 Million-Plus In Annual Revenue
$5,000 Welcome Bonus
Developers of the Centre County mini-casino at Nittany Mall are counting on more than $100 million in annual revenue from the gaming operation. They invested $79.5 million upfront. The company is headed by Philadelphia businessman/investor Ira Lubert. He won the right to develop the project at a gaming board auction Sept. 2. The project is among four of Pennsylvania’s five mini casinos utilizing vacant mall or other commercial space. It takes advantage of existing infrastructure rather than building from ground up.
Bally's Corp. announced in January it would be partnering with Lubert in the Centre County project. The application identified Las Vegas gaming consultant Eric Pearson as the prospective CEO of the new property. Construction is expected to begin later this year. Economic impact of construction is worth $61.4 million to Centre county's economy and $73.3 million for the state. Once open, the annual impact is $129. 3 million for county and $146.6 million from state, according to the application.
The Live! Pittsburgh mini-casino is the only one open in Pennsylvania. It drew $6.3 million in slots and table games revenue in February. There are four other mini casinos in various stages in the state. Two are being developed by Penn National Gaming and are expected to open later this year. Parx Casino has plans for its satellite casino at a former Lowe's home supply store in Cumberland County. The Shippensburg Township supervisors voted this month to grant conditional use approval for that project. Shuppensberg University's H.R. Luhrs Performing Arts Center will host a public hearing on the project on May 20.
