Lubert was a founding investor in the Valley Forge Casino Resort. Because it was initially a Category 3 casino only accessible to hotel guests and members, the PGCB licensing fee was only $5 million in 2011. That’s far cheaper than the $50 million costs for a Category 2 casino that is open to everyone.<\/strong><\/p>\nThe PGCB in 2017 amended its categories and allowed Valley Forge to pay a $1 million fee to welcome in non-hotel guests. Lubert and his partners sold the casino a few months later to Boyd Gaming for $280.5 million.<\/p>\n
Lubert no longer holds stake in Valley Forge, but does have a three percent interest in Rivers Casino Pittsburgh.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bally’s Corporation and Pennsylvania businessman Ira Lubert are partnering to build a satellite casino near Penn State University in Centre County. Lubert was the high bidder during the September auction held by the Pennsylvania Gaming Control Board (PGCB). The Category 4 license was won with a $10,000,101 bid. Category 4 permits satellite gaming venues to […]<\/p>\n","protected":false},"author":25,"featured_media":160137,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,33810],"tags":[],"acf":[],"yoast_head":"\n
Bally's to Build Pennsylvania Satellite Casino Near Penn State University<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n