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Lawrence Downs gets more time to get financing in place
By ROBERT CONNELLY
NEW CASTLE, Pa.
Endeka Entertainment, with a new partner, has been granted a six-month extension to continue to pursue a proposed Lawrence County racino.
The Pennsylvania Gaming Control Board, meeting in Harrisburg on Wednesday, unanimously approved the extension for Endeka and its new partners, businessman Joe Procacci and Merit Gaming of Chicago. The new partnership has several deadlines to meet, said Doug Harbach, the PGCB spokesman.
The application is due by June 1; a new $50 million bond, required on all casino applications, has to be submitted by June 1; submitting information for applications of other individuals previously requested by the PGCB’s bureau of investigations is due by June 15; monthly updates on progress begin July 1; approval from the Pennsylvania State Harness Racing Commission is due by Nov. 20 and “all financing” must be in place by Nov. 20.
That $50 million bond had been paid by previous partner, Penn National Gaming Inc. The board approved of Western PA Gaming Ventures LLC, a Penn National company, to pull out of the proposed Lawrence Downs racino with harness racing. Penn National pulled out of the project March 30.
“There’s no wiggle room on this. The board has been very patient on [Lawrence Downs], and this is setting a strict time line on this project to come to fruition by Nov. 20 for these new partners,” Harbach said.
Lawrence County Commissioner Dan Vogler regularly has attended the PGCB monthly meetings and was in Harrisburg.
“Going into [the meeting], I was cautiously hopeful. What made me hopeful was that Endeka had made this agreement with investors. ... I don’t know that the board would have been as accommodating” without a partner, Vogler said.
“I don’t believe the board is in a frame of mind to grant many more extensions,” Vogler said of the six-month extension.