The Pennsylvania Gaming Control Board (PGCB) has made a unanimous decision to extend the Category 3 Casino operator’s license for Valley Forge Convention Center Partners. This accolade highlights the operator’s commitment to fulfilling its obligations under its existing casino operator’s license. The renewal, spanning five years, comes after a rigorous evaluation process that involved public input hearings, detailed assessments from various entities, and thorough questioning by the PGCB.
Background and License Renewal Process:
Valley Forge Convention Center Partners, the operator of Valley Forge Casino Resort in Montgomery County, Pennsylvania, has successfully met its obligations under its prior casino operator’s license. The PGCB’s recent unanimous vote now grants the venue an additional five years of operation. This decision was preceded by a public input hearing held in Upper Merion Township, the casino’s host municipality, in which the community had the opportunity to provide feedback and testimony regarding the casino’s operations and impact.
The PGCB undertook a comprehensive evaluation, considering input from local government officials, community groups, the Pennsylvania State Police, and various divisions within the Gaming Control Board. This thorough assessment culminated in a public hearing in Harrisburg, during which Valley Forge Convention Center Partners, LLC representatives addressed any remaining concerns before the renewal vote.
Valley Forge Casino Resort’s Impact and Achievements:
Since its establishment in March 2012, Valley Forge Casino Resort has emerged as a significant contributor to the region’s economy and tax revenue. With a comprehensive range of offerings including slot machines, table games, iGaming, and sports wagering, the resort has garnered a remarkable $2.04 billion in gross revenue. This impressive figure translates into approximately $807 million in tax revenue returned to the Commonwealth.
The establishment’s comprehensive offerings comprise 850 slot machines, 50 table games, FanDuel retail and online sportsbooks, and both FanDuel and Stardust iGaming platforms. The resort’s multifaceted approach to gaming has not only entertained patrons but also bolstered Pennsylvania’s gaming industry.
Employing a staff of 320 board-licensed professionals, Valley Forge Casino Resort stands as a notable employer within the state’s gaming sector. Its dedication to providing employment opportunities further enhances its positive impact on the community.
Pennsylvania’s Gaming Revenue Surge:
Pennsylvania’s regulated gaming and fantasy contests witnessed a substantial boost in revenue, surging to $448.4 million in September. This notable growth of 7.9 percent compared to the same period in the previous year underscores the robust health of the state’s gaming industry.
The Pennsylvania Gaming Control Board oversees a diverse array of gaming revenue sources, including slot machines, table games, internet gaming, sports wagering, fantasy contests, and video gaming terminals (VGTs). While retail slots revenue experienced a marginal decrease of 0.18 percent, amounting to $198.5 million, retail table games revenue also decreased slightly by 2.9 percent, totaling $81 million.
Leading Performers in Pennsylvania’s Gaming Landscape:
Among the land-based casinos in Pennsylvania, Hollywood Casino at Penn National emerged as the frontrunner in revenue generation, boasting a noteworthy $65.9 million. This figure marked a remarkable 18 percent increase compared to the same period in the previous year. Parx Casino in Philadelphia, on the other hand, reported a slight dip of 2.6 percent, generating $55 million. Rounding up the top three performers, Valley Forge Casino Resort witnessed a substantial surge of 27.7 percent, culminating in a revenue of $55.6 million.
The Pennsylvania Gaming Control Board’s unanimous decision to renew Valley Forge Casino Resort’s license signifies the establishment’s consistent adherence to its obligations and its positive impact on the local economy. With a diverse range of offerings, substantial revenue generation, and a commitment to the well-being of its community through employment opportunities, Valley Forge Casino Resort stands as a testament to the thriving gaming landscape in Pennsylvania. As the state’s gaming revenue continues to surge, these developments underline the industry’s resilience and potential for sustained growth.