The State’s Gaming Law establishes that if an auction within the second round of auctions fails to generate any bids, the board may, in its discretion, determine if it is in the best interests of the Commonwealth to conduct additional auctions at which any Category 1, Category 2 or Category 3 slot machine licensee, or other qualified entity, may bid.
The Board had previously made four awards in its initial round of auctions in which current Category 1 and 2 license holders could participate.
Following an auction in which no bids were received, the Board gained one additional award in a subsequent round in which Category 1, 2 and 3 license holders could participate before no bids were received Wednesday.
If the board elects to conduct additional auctions, the board must first establish criteria and procedures for the qualification of entities to participate in the bidding for a Category 4 location to place a casino.
If the board elects to conduct additional auctions, the board must first establish criteria and procedures for the qualification of entities to participate in the bidding for a Category 4 location to place a casino.
Under law, a maximum of 10 Category 4 casinos could be awarded.
So far the mini-casino auctions have brought in about $126 million.
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