Bally’s Corp. has announced it has signed a framework agreement with real estate developer Ira Lubert to open an estimated $120 million casino at the Nittany Mall in State College, Centre County, Pennsylvania.
Bally’s will jointly design, develop and construct the casino with Lubert, who was recently awarded the right to apply for a Category 4 slot machine license for a casino by the Pennsylvania Gaming Control Board.
A Category 4 license permits licensees to operate between 300 and 750 slot machines, and petition to operate up to 30 table games.
Puerto Rico sports bet bill
Former Governor of Puerto Rico Wanda Vázquez Garced has signed into law the Senate Bill 1534, which paves the way for the activation of sports betting and esports in the country.
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The measure was among the last to be signed by Vázquez Garced before stepping down after 16 months fronting the government.
The bill effectively amends the previous Gambling Law, with the goal of “allowing new industries and businesses to create jobs” as well as “creating new sources of revenue to sustain government programs and essential services.”
Apollo approved for takeover
Great Canadian Gaming Corp.’s deal to be acquired by a fund affiliated with Apollo Global Management Inc. has been granted court approval.
The Supreme Court of British Columbia signed off on the investment fund’s $45 per share takeover offer, the casino operator said.
The gaming company will be delisted from the Toronto Stock Exchange after the deal is finalized in the second quarter of 2021, as long as regulatory and closing conditions come through.