Happy Valley Casino hits ‘significant milestone’ with ownership change. What to know
AI-generated summary reviewed by our newsroom.
- Saratoga Casino Holdings acquired majority stake; opening planned in April.
- At launch, will have 600 slots, 30 table games, restaurants and more than 300 jobs.
- Centre County and College Township expect about $1.3M annually in gaming tax.
A New York-based casino operator has taken a controlling stake in the Happy Valley Casino, a move they say will help bring it to fruition ahead of a planned opening in April.
Saratoga Casino Holdings said in a press release Friday it is now the majority owner of the casino that’s under construction at the Nittany Mall. A company spokesperson told the Centre Daily Times that Saratoga is a 60% owner of the casino.
They did not answer a question asking the valuation of the agreement.
“This agreement represents a significant milestone for the Happy Valley Casino project as we move toward opening just months away,” SC Gaming CEO Eric Pearson said in a written statement. “Partnering with Saratoga positions us to deliver a modern gaming destination that meets the highest regulatory and operational standards, creates meaningful employment opportunities for the Community, and serves as a powerful new driver of economic activity for Centre County.”
The two companies said they would jointly develop and manage the casino, describing it as a way to combine Saratoga’s operational experience with SC Gaming’s local leadership and development expertise.
Pearson will continue to serve as the casino’s general manager. The Happy Valley Casino would be Saratoga’s first location in Pennsylvania when it opens. The company currently operates three other casinos in New York, Colorado and Mississippi.
“Happy Valley Casino marks an exciting new chapter for Saratoga Casino Holdings,” Saratoga CEO Sam Gerrity said in a written statement. “Pennsylvania is one of the most dynamic gaming markets in the country, and this partnership with SC Gaming provides an outstanding opportunity to bring Saratoga’s proven operating experience to State College. We are proud to be part of a project that will create jobs, support the local economy, and enhance entertainment options for the region.”
What to expect at Happy Valley Casino
The estimated $120 million, nonsmoking gambling facility is expected to initially feature about 600 slot machines, 30 table games, sit-down restaurant Aces Social and a quick-service food court Lucky Break Café.
A dozen of the table games are set to be for blackjack, while the others are poised to include craps, roulette, midi baccarat, Ultimate Texas Hold’em, face up pai gow poker, three card poker, Mississippi stud and Spanish 21.
The casino could seek to add up to 10 more table games after a year of operation. Developers are also planning to add up to 150 slots machines over the next two to three years.
More than 300 people are expected to be employed when the casino opens, which is still contingent on regulatory approval from the Pennsylvania Gaming Control Board. Initial hours are set for 10 a.m. to 2 a.m. daily.
Penn State alumnus and real estate magnate Ira Lubert purchased the mini-casino license for more than $10 million in September 2020. Construction was paused for years while court battles unfolded.
In the first five years of operation, Centre County and College Township’s governments are expected to receive about $1.3 million annually in gaming tax.
