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Pa. Gaming Board meets

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March 04, 2005 Send To A Friend  | Print View

According to a timetable released Thursday by the Pennsylvania Gaming Control Board, racetracks in that state could be issued slot machine licenses by December. It would then likely take another year before the slot areas are open at the tracks.



By law, licenses must first be issued to slot machine manufacturers and distributors and casino suppliers at least three months before racetracks can receive licenses. Also, regulations to govern the licensing process must still be written, as well as hiring an executive director and staff of the Gaming Board.



The Board is authorized to issue 14 slot machines licenses. Twelve will cost $50 million each and allow up to 5,000 machines, while the remaining two licenses will cost $5 million and allow up to 500 machines.



According to Associated Press, The Meadows' vice president Mike Jeannot said that track won't be able to get a loan to build a gambling parlor until a slots license is issued. He expects after that happens the parlor would open within a year.

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