The Pennsylvania Gaming Control Board stated that it needs more information about Endeka Entertainment, LP, before it decides whether the business entity will be granted a license for the operation of slot machines at a horse racing venue, located in the western part of the state.
William H. Ryan Jr., chairman of the gaming regulator, was asked during a budget meeting, held on March 12, when a decision might be expected. Mr. Ryan stated that he hopes the board will be able to announce its final say on the matter before the end of 2015.
Michael H. O’Brien (D., Phila.) expressed his concerns that the license might not be granted and thus, the state will not be able to benefit from tax revenues generated out of gambling activities at the above-mentioned horse racing venue. Yet, board officials pointed out that they are currently reviewing Endeka Entertainment’s proposal and will pay attention to every single detail.
A few days ago, R. Douglas Sherman, who is taking the position of a chief counsel of the Gaming Board, sent a letter to Endeka’s attorneys in Scranton, Pennsylvania, asking for an update of the information concerning the financing of the project and application details.
A meeting is scheduled for April 29, when an authorized Endeka representative will present the necessary account on the company’s matters before Gaming Board officials.
In May 2013, Endeka filed an application for a license for the operation of a racino in the state. Back then, it was announced that gambling operator Penn National Gaming will develop and operate the property. What is more, Manuel Stamatakis, chief executive officer of Capital Management Enterprises, was said to be the primary managing partner.
At present, Mr. Stamatakis owns more than 18% of Endeka. He commented on the racino project as a very good one. He also said the he hopes residents of Lawrence County will finally have a casino, something they have been waiting for for quite some time.
The proposed racino is to be located in Mahoning Township, Lawrence Downs. The whole project was estimated at $225 million. According to the initial plan, the venue will feature as many as 1,250 slot machines, 41 gaming tables, and 10 poker tables. Furthermore, it will offer harness racing options.
Endeka has already been awarded a horse racing license, but the group can take advantage of it only if a slot machines one is granted, too.
