Stadium Casino LLC pays $40.1M to state for Westmoreland mini casino license
The group behind the winning bid to build a mini casino in Westmoreland County on Friday submitted its payment of $40.1 million to the state Department of Revenue.
Stadium Casino LLC had until 4 p.m. Friday to make the payment. The group is behind the planned $600 million Live! Hotel and Casino in Philadelphia.
A Derry Township location was listed with the winning bid, though the group can negotiate with municipalities within a 15-mile radius of that location as long as it is outside a 25-mile exclusionary zone of an existing casino in the region. Western Pennsylvania already is home to Rivers Casino in Pittsburgh, The Meadows Racetrack & Casino in Washington County and Lady Luck Casino Nemacolin in Fayette County.
It has six months to submit formal plans to the Pennsylvania Gaming Control Board.
The board is auctioning the rights to 10 mini-casino licenses on a twice-monthly basis through May. The next auction is scheduled for Feb. 7.
The mini-casinos can have up to 750 slot machines and as many as 40 table games.
Mountainview Thoroughbred Racing Association won the first license on Jan. 10 with a bid of $50.1 million. The company, which is a subsidiary of Penn National Gaming, plans to build a facility near York in Central Pennsylvania.
Stadium Casino’s Live! Hotel and Casino is a joint venture between Greenwood Racing Inc. and Cordish Companies out of Baltimore, according to Philly.com.
Greenwood Racing owns Parx Casino and thoroughbred racetrack in Bensalem, Bucks County, which opened in 2006 and generates the most gambling revenue of Pennsylvania’s 12 casinos.
London-based businessman Watche “Bob” Manoukian, worth a reported $850 million, owns nearly 86 percent of Parx, according to Philly.com and the Associated Press.
The Pennsylvania Supreme Court twice in the last two years made the Gaming Control Board re-examine whether Manoukian could own controlling stakes in more than one Pennsylvania casino. The board determined that Manoukian will not own more than a third of Philadelphia’s second casino, making the operation in compliance with state law, The Intelligencer reported.
According to the Cordish Companies’ website, its gaming ventures include two Hard Rock Hotel & Casino properties in Florida and Maryland Live! Hotel & Casino in Hanover, Md.
The company owns mixed-use project and entertainment complexes across the country, including in Houston, Cleveland, Louisville, Ky., St. Louis, Atlanta, Kansas City and Arlington, Texas.
Key officials include brothers Jonathan, Blake and Reed Cordish, Joseph Weinberg and Charles Jacobs.
Jeff Himler is a Tribune-Review staff reporter. You can contact Jeff by email at email@example.com or via Twitter .