Sunday, September 30, 2007
Centaur Inc. is now raising $900 million for its projects in Lawrence County and Indiana.
By LAURE CIOFFI
VINDICATOR PENNSYLVANIA BUREAU
NEW CASTLE, Pa. — It didn’t take long for Centaur Inc. to get moving on its plans for a new racetrack and casino in Lawrence County.
The Indiana-based company was awarded the state’s last harness racetrack license Sept. 4.
Six days later, Centaur already had a representative in the county working on plans for permits and other necessary items that must be done before construction can begin, according to local officials. Lawrence County officials call it the largest project in the county.
Work progress
Jeffrey Smith, managing director of racing for Centaur Inc., constructing Valley View Downs in Mahoning Township at U.S. Routes 422 and 551, said work has been nonstop since even before the license was awarded.
They are working with architects who are designing the 250,000-square-foot facility. It will boast a one-mile harness track exclusively for standard-bred racing and a casino with 3,000 slot machines.
Other amenities will include lounges and restaurants on about 250 acres — a reclaimed strip mine owned by the Shick family of Lawrence County.
The Shicks, who had planned to build their own racetrack and casino on the property, agreed to sell it to Centaur for $75 million. That deal should be closed by the end of October. The Shicks have retained an adjoining 250 acres where they plan their own development of an indoor water park and retail shops and dining.
Applying for license
Centaur has spent the last four years planning to build a 5/8th-mile harness track in neighboring Beaver County on a hilly tract of land. They have basically had to redesign the whole project.
In the midst of it all, Smith said, he’s been working on casino plans for a racetrack in Hoosier Park in Anderson, Ind., where Centaur was awarded a license for slot machines in April.
He said the company’s first move has been raising $900 million to pay for both projects. With that effort still under way, Centaur also is preparing its application for a slots license in Pennsylvania for the Lawrence County race track project.
Smith could not say last week when that license application would be submitted, but the company hopes to act soon, he added.
Until that application has been approved, Smith said there is no way to determine when construction will begin or when the racetrack and slots parlor will open.
There are currently five racetrack/casinos operating in Pennsylvania and the slots license for a sixth is pending, according to the Pennsylvania Gaming Control Board.
Job opportunities
Lawrence County officials have called this the largest economic development project in the county.
“Just since early September when the decision was made, I’m noticing a real sense of excitement in the community,” said Lawrence County Commissioner Dan Vogler. “People seem to have a real optimistic outlook.”
Mahoning Township Supervisor Poncho Exposito said he’s noticed the same type of reaction. “It’s all been positive,” he said.
Once construction does start, Centaur estimates there will be 1,500 construction jobs and another 1,500 full- and part-time jobs at the race track and casino.
“Those jobs will include everything from casino employees to racetrack employees. It’s quite an economic development project,” Smith said.
He said Centaur will be working with the local job centers and expects to draw employees from the entire region, including Youngstown.
Centaur also is looking toward Youngstown and farther into Ohio as an important source of customers once the track and casino are open.
“I think Youngstown will be an important segment of the market for us,” Smith added.
cioffi@vindy.com