Hollywood Gaming of Mahoning Valley Race Course, the latest racino in Ohio, has recently released its financial report for the first six months of its operation. The Youngstown property opened doors in September 2014 and according to Michael Galle, General Manager and Vice President of the gambling venue, it performed quite well during the period in question.
Officials from neighboring Lawrence County, Pennsylvania believe that Lawrence Downs Casino and Racing Resort might have similar success and are keen on moving the project forward.
The application for the gambling venue, which is to be built not far from the city of New Castle, was submitted to the Pennsylvania Gaming Control Board almost two years ago. Board members asked to receive up-to-date information about the project at their next meeting, which is scheduled for April 29.
A representative for Endeka Entertainment, a Philadelphia-based investor, which is in charge of the project, was requested to attend the meeting and to be prepared to answer questions.
Doug Harbach, a spokesperson for the state gaming regulator, explained that the Bureau of Investigations and Enforcement is currently reviewing the application, as it needs to make sure that Endeka complies with the board’s requirements. In addition, Mr. Harbach said that a decision on the project is likely to be announced before the end of 2015.
Casino gambling was legalized in Pennsylvania in 2004. The Gaming Control Board promised a total of seven casino and racetrack licenses across the state and one of those was reserved for Lawrence County. Endeka has been trying to establish a gambling venue on the territory of the county for more than ten years now.
The $210-million Lawrence Downs Casino and Racing Resort is planned to feature a one-mile horse-racing track, 36 gaming tables, and a thousand slot machines. Last year, project developers promised that it could be completed within 18 months, once the necessary approval is given. Penn National Gaming, known to be the largest racino operator in North America, will manage the venue’s operations.
At present, the company is also in charge of Hollywood Gaming of Mahoning Valley Race Course in Ohio.
If the Lawrence County venue gets the green light from the state regulator, there will be two racinos in a near proximity to each other – Hollywood Gaming in Ohio and Lawrence Downs in Pennsylvania. Gambling experts, however, believe that this will not necessarily be bad for both venues.
Mr. Galle pointed out that there is nothing to worry about. According to him, competition might, in fact, be good for the business.
