In Pennsylvania and local businessman Ira Lubert (pictured) has reportedly won the auction for the eastern state’s sixth satellite casino license after bidding slightly over the required $10 million minimum asking price.
According to a report from the online news domain at PlayPennsylvania.com, Lubert is a real estate and private equity manager headquartered in Philadelphia while additionally holding a minority interest in the eastern state’s Rivers Casino Pittsburgh property. He purportedly now has until Monday to get the cash to officials from the Pennsylvania Gaming Control Board after which he will be granted up to six months to apply for an associated Class 4 casino license.
The domain reported that Lubert was also part of the 2012 opening of Pennsylvania’s Valley Forge Casino Resort and had earlier detailed that he may look to bring his ‘miniature casino’ to the small Centre County town of Unionville, which lies only about nine miles from the larger community of State College and the over 40,000 students attending Penn State University.
PlayPennsylvania.com reported that Lubert graduated from Penn State University and currently serves on its board of trustees. The Class 4 license would purportedly allow the businessman to open his ‘miniature casino’ complete with up to 750 slots and pay $2.5 million for the right to add a maximum of 30 gaming tables, which could be joined by a further ten such units after a year.
Should Lubert be granted the coveted Class 4 license and PlayPennsylvania.com reported that he may well furthermore investigate the possibility of citing his envisioned satellite gambling facility within the nearby Nittany Mall shopping center, which lies on the outskirts of downtown State College. The businessman is purportedly part of an enterprise known as Nittany Gaming LLC that two years ago secured a lease option that could result in the struggling property’s former Macy’s retail outlet hosting the proposed ‘miniature casino’.