Analysis

Bally’s outlines PA expansion plans

Bally has announced coordinated land-based and online expansion plans for Pennsylvania as it expands its ambitions in the Keystone State.

Bally’s Corporation has announced plans to build a land-based slots and gaming tables facility within a 15-mile radius of Unionville Borough in Centre County, Pennsylvania. It will also see the company apply for sports betting and online gaming licenses.

The new ‘Category 4’ casino property will begin construction in the first half of this year and will take a year to complete.

It will include up to 750 slots and 30 table games.

Alongside the physical venue, Bally’s Corporation will also be allowed to offer retail sports betting as well as online betting and gaming.

Until the acquisition of the Bally’s Atlantic City casino in New jersey, the company was known as Twin River.

It now owns and manages 11 casino properties in seven states, a racetrack and 13 OTB outlets in Colorado.

Costed out

Bally’s estimates the total cost of the project will come to $120m. The project will be developed in conjunction with real estate investor Ira Lubert.

His previous interests include a minority stake in the Rivers Casino Pittsburgh and the Valley Forge Casino Resort near Philadelphia.

George Papanier, President and Chief Executive Officer of Bally’s Corporation, said the expansion into Pennsylvania represented “yet another major milestone for Bally’s”.

“We look forward to combining our own proven track record of greenfield development,” he added.

Working the bet

Alongside New Jersey, Pennsylvania marks another significant expansion for Bally’s sports betting operations.

Bally’s remains for now a minor brand on the Wedge Index. This might change, though, depending on its success in New Jersey and elsewhere in acquiring gaming market share.

Much will depend on the success of the Bet.works acquisition completed in November for $125m. Owning a platform supplier clearly stakes out Bally’s intentions.

Following that deal, Bally’s went live with sports-betting in Iowa after taking over the provision agreement with the Elite Casino in Grand Falls.

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Scott Longley

Scott Longley has been a journalist since the early noughties covering personal finance, sport and the gambling industry. He has worked for a number of publications including Investor's Week, Bloomberg Money, Football First, EGR and GamblingCompliance.com. He now writes for online and print titles across a wide range of sectors.

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