Slot Gambling Coming To Valley Forge After License Issued
The state of Pennsylvania is leaving nothing to the imagination when it comes to gambling in the state. they have been expanding the casino industry at a swift pace, and have now awarded another slot license.
Valley Forge Convention Center Partners, L.P. were the recipients of the latest license on Wednesday. The license becomes the twelfth out of fourteen that were available, but only the first to be awarded since 2006.
"Despite the tightened credit market, Valley Forge was able to demonstrate to the Gaming Control Board that it has obtained firm financial commitments for its project," said Chair Mary DiGiacomo Colins.
The Board is currently exploring options and has opened up the Category 3 application process. Fernwood hotel & Resort has already applied and the application is under consideration from the Control Board.
In addition to the slot licenses, casinos are being built in both Philadelphia and Pittsburgh. The Pittsburgh project has been ongoing for a while now, but the Philadelphia projects have been met with some resistance.
The Valley Forge Convention Center has 488 hotel rooms. The facility is projecting $74 million in produced gross terminal revenue by the fifth year of operating slots.
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