Stadium Casino is the new kid on the block in Pennsylvania’s licensed casino market. However, it could be one of the first to open a satellite casino after announcing that it has chosen Westmoreland Mall to be the development’s location.
The space is currently occupied by the Bon-Ton department store. Bon-Ton is closing in August following the company’s liquidation.
The plot will become a 100,000 square feet of casino hosting up to 750 slot machines and up to 30 table games.
The press release states that the development will “create more than 600 jobs and generate millions of dollars annually to the local community.”
Final plans are subject to the approval of the Pennsylvania Gaming Control Board (PGCB) so the development time frame will have to wait until the board grants its approval.
Stadium Casino partner Joe Weinberg, commented:
“The property is ideally situated in the Region, with excellent infrastructure and road networks in place. The synergy of this new gaming and entertainment facility with the existing retail and dining amenities in the property and surrounding area will be tremendous.”
Stadium Casino is a joint venture
The Stadium Casino group won the second Category 4 license. The winning bid cost Stadium Casino $40,100,005. Having paid that much, Stadium is committed to making the new venture a success.
Stadium is a joint venture between The Cordish Companies and Greenwood Gaming & Entertainment which owns Pennsylvania’s Parx Casino. They, in turn, have partnered with CBL Properties to develop the new location.
CBL is the owner of the 1.28 million square foot Westmoreland Mall The shopping center first opened in 1977. It is the third-largest shopping complex in Western Pennsylvania.
CBL’s CEO, Stephen Lebovitz said;
“CBL’s strategy is to reinvent its properties by bringing new and exciting experiences to our shoppers. We are adding fitness, dining, hotels and other uses to properties throughout our portfolio. The addition of a casino to Westmoreland Mall is the ultimate combination of entertainment, dining and experience.
He added that:
“This combination of gaming and new dining venues, which is the first in the CBL portfolio will draw new traffic to Westmoreland Mall from across the region, positioning the property for long-term growth and success.”
Mall regeneration fits casino expansion
Westmoreland Mall is located directly off Route 30, around 30 miles from central Pittsburgh. The location also has the potential to draw customers from neighboring states Maryland and West Virginia.
The deal is a win-win for Stadium and CBL. The rise of internet shopping sites like Amazon has reduced the popularity of malls. Many have closed or struggled to fill their retail space.
Westmoreland offers Stadium a casino location with sufficient reach to access a large customer base. Meanwhile, CBL will benefit from the additional customers coming to its mall retailers.
Stadium has not yet built its primary casino in Pennsylvania
Stadium’s plans for its mini-casino are impressive in that they are the first to submit them to the PGCB. Three of the five Cat 4 license applicants have asked for a 60-day extension before sending their plans to the PGCB.
This is even more remarkable given that Stadium has not even finished its primary casino.
The company is investing $600 million to build a state of the art venue on the former Holiday Inn property at 900 Packer Ave, Philadelphia, PA.
The main casino will include a 200+ room hotel and offer 2,000 slots and 125 table games. The grand opening is due in 2020. So, theoretically, the satellite casino in the Westmoreland Mall could even open before its big brother.