The state of Pennsylvania has dedicated 2018 to a lot of improvement when it comes to the gambling industry and one of the ways to do so is with the introduction of 10 mini-casino venues sprinkled across the state. This Wednesday brought the sixth auction for satellite casino license but it didn’t bring any bidders to participate in it, marking a second similar situation.
Analysts well-acquainted with the field have been giving mixed forecasts for the future of the mini-casino auctions in Pennsylvania and their predictions span from wide interest from casino operators to no interest at all. This auction was also broadening the spectrum of potential participants as a subsequent round of bidding meetings. It added casino developers which have won in previous meetings as well and thus expanding the list of potential new builders of casino venues. The operators of Valley Forge Casino Resort and Lady Luck Casino Nemacolin, which are smaller gambling facilities in the state were allowed to place a bid as well.
It could be recalled that the fifth auction for satellite casino which took place at the beginning of April, came following several postponings and delays which slowed down the whole process. As the trend went from the first mini-casino bid to the most recent, the interest levels towards this fifth casino auction turned out being as low as possible. This meant that the only bidder which claimed its spot was Penn National. It should be taken into account that since the first auction took place, fewer and fewer participants are willing to place their bets and with that their proposed bids are decreasing as well.
Future of the Casino Industry
The low level of interest went so far as to render the last scheduled auction back in March without any participants. Now the situation is repeating all over again, as this sixth mini-casino auction was once again rendered without any participants to place their bids.
This places the gaming field in an even more complicated situation since there are five more licenses for operation to be given out. Following the unfortunate turn of events this Wednesday, the Pennsylvania Gaming Control Board has yet to decide whether or not to give green light to an additional auction. According to the information given it will give one more chance to already operating casino developers with licenses issued by the gaming authority.
The official decision is expected to be announced soon. Before any action could take place, however, the gaming authority in the state is going to have to define clear rules for qualification in them. There is also the notion that the state initially estimated that all ten of the auction could amass some $100 million, needed for fortifying the state budget. At this point after only five successful auctions, the amount generated reached $127 million.
