After $10M winning bid, a casino appears to be on the way to Centre County. Here’s what we know
Penn State alum and real-estate magnate Ira Lubert won a $10 million bid for a mini-casino license Wednesday morning — and he intends to place that casino in Centre County.
According to publicly available information from the Pennsylvania Gaming Control Board, Lubert chose Unionville borough as the potential location for the casino, meaning any potential casino must be built within 15 miles of there. Lubert has two business days to pay his winning bid of $10,000,101 and then six months to submit an application, which would reveal the casino’s specific location.
If he does not submit an application in time, he will forfeit his winning bid. Lubert did not immediately return a message from the Centre Daily Times seeking comment.
According to a PGCB spokesperson, Lubert’s license would allow him to build a casino with between 300 and 750 slot machines. A table-games license would cost an additional $2.5 million and would allow for 30 table games the first year, with an additional 10 after the first year of operation.
Lubert could also choose to petition for a sports-wagering license, which would cost an additional $10 million.
“No doubt, located in a Pennsylvania sports hub, that’s likely something that would be looked at,” PGCB spokesman Doug Harbach acknowledged to the Centre Daily Times.
Ultimately, however, local gamblers shouldn’t start counting their winnings just yet. Once Lubert submits an application, it could take the PGCB months — “Other times, it could take a year,” Harbach added — before ruling on the application.
Once it’s submitted, there will be a public hearing in the municipality where the potential casino would be located. The board would also look into financing and the community impact before voting on whether to allow the casino to move forward.
It’s unknown where the potential site might be, but Nittany Mall was floated as a possibility nearly three years ago — and that remains within the 15-mile boundary of Unionville borough. Although other local municipalities — such Boggs, Harris, Howard, Ferguson and Patton townships and State College borough — have already prohibited such casinos, the township that includes the mall (College Township) has not.
Township Manager Adam Brumbaugh and Council Chairman Anthony Fragola told the CDT that Wednesday’s announcement caught them by surprise. They acknowledged speaking with several interested parties more than a year ago about potentially putting a casino in or around the mall, but they said they have not had any discussions with Lubert this calendar year.
They said they do not know whether Lubert intends to put the casino in the mall, but they both welcomed that possibility.
“With the struggles of the Nittany Mall, this could be a true, powerful opportunity to redevelop the Nittany Mall and the surrounding area,” Fragola said.
Added Brumbaugh: “We’re cautiously optimistic that this could be a very positive economic development for the area, especially in these COVID pandemic times.”
Reached by phone, a spokesperson from the real-estate group that owns the Nittany Mall declined to speak on the record but forwarded on the CDT’s inquiry. State Rep. Scott Conklin, D-Rush Township, also did not immediately return a message from the CDT seeking comment.
State Senate Majority Leader Jake Corman, R-Benner Township, said after the print deadline of this story he supported the addition of a casino.
“Having the type of casino in the region will serve as yet another reason for people from all over to travel to Centre County and experience all our area has to offer,” he said in a written statement. “It is another source of entertainment locally that will enhance our region as a destination for visitors.”
According to Harbach, the casino’s host municipality would get 2% of gross revenue from slot machines and 1% of table games. The same goes for the county. Sports wagering revenue does not specifically go to a municipality or county, however.
Lubert, who helped open Valley Forge Casino Resort before selling it, was one of two bidders Wednesday. He is already licensed by the PGCB in connection with an ownership interest with Holdings Acquisitions Co., LP, operator of Rivers Casino Pittsburgh.
This story was originally published September 2, 2020 at 12:45 PM.
