The Pennsylvania Gaming Control Board (PGCB) on Wednesday stubbed a proposal by Mount Airy Casino Resort to build and operate a Category 4 mini-casino in Beaver County.
The regulator’s chairman, David Barasch, said after PGCB’s meeting on Wednesday that they have decided to reject Mount Airy’s application because the casino was unable to secure the necessary financing to materialize its project for the development of a satellite gaming facility in Big Beaver, Beaver County.
The plan was unanimously rejected by PGCB members. The regulator is set to collect $5.3 million from Mount Airy for the time it had spent on reviewing the Category 4 casino proposal.
In February 2018, Mount Airy placed a $21,188,888.88 bid to claim a Category 4 license from the Gaming Control Board. The company unveiled its plan for a Beaver County mini-casino in August 2018. The plan included the construction of a gaming complex near Interstate 376 in Big Beaver. The casino would have featured 750 slot machines and 30 table games as well as three dining outlets.
Mount Airy officials had an agreement in place to purchase land to develop the property, which would have spread over 100 acres. They submitted the application for the mini-casino with the PGCB in mid-October 2018.
Mount Airy Blames Failure on Increased Regional Competition
Mount Airy did not hide their disappointment with the turn of the events. Todd Greenberg, Chief Operating Officer of the casino’s parent company and General Manager of the Monroe County resort, said Wednesday they are very disappointed that they will “not be moving forward with our proposed Category 4 casino in Beaver County.”
The official also noted that their failure to raise money to fund the project stemmed from “external factors such as increased competition from new casinos and nearby destination resorts”, which had a larger impact on their revenue that what they originally anticipated.
Beaver County officials were also disappointed by the project’s failure. Daniel Camp, Chairman of the county’s Board of Commissioners, said that “it’s disappointing that representatives from Mount Airy held up prime property in Big Beaver borough that could have been developed into different uses for so long.”
Mount Airy is poised to receive a bit of a revenue boost through its entry into Pennsylvania’s sports betting mix. In early September, the property’s sports betting partner, The Stars Group, launched the FOX Bet app. The roll-out of the digital betting product was followed by the opening of a physical sportsbook at Mount Airy’s casino floor.
The wagering facility occupies 7,000 square feet and is located inside the former Gypsies Lounge and right next to a PokerStars-branded, 12-table poker room.
According to information from the PGCB, Mount Airy and its sports betting partner handled $15.3 million in bets and generated nearly $1 million in revenue during the first two months of operation. The property’s retail sportsbook handled $1 million in wagers on various sports and generated revenue of $132,458. The FOX Bet app and website took $14.3 million in bets and $860,153 in revenue.
Source: Mount Airy’s mini-casino proposal near Ohio border denied by Pa. Gaming Control Board, The Morning Call
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