30-second summary
- Parx Casino wants to open satellite sportsbook at Valley Forge Turf Club
- Parent Company Greenwood Gaming and Entertainment files petition for licensing
- Parx feels the Valley Forge location is ideally suited for sports betting
The Valley Forge Turf Club is a facility located off U.S. 422 that offers horse betting and simulcast racing. It has been successful ever since it opened in 1996. Parx Casino, the operator of the facility, would like to offer sports betting there. The parent company of Parx Casino is Greenwood Gaming and Entertainment, which has filed for a sports betting license in the hope of opening a sportsbook at Valley Forge.
Moving Forward
The application filed by Greenwood Gaming has called the Valley Forge Turf Club “ideally suited” for sports betting. The location of the venue is a prime spot for travelers and area residents. It is near areas such as the Valley Forge National Park and the King of Prussia Mall. The facility is also near the Pennsylvania Turnpike.
Parx Casino has plans to renovate the facility to offer sports betting. To do so, the company will have to be approved by the Pennsylvania Horse Racing Commission.
Parx sports betting
Parx Casino has been quite busy lately when it comes to sports betting. The company opened a sports betting facility at its casino in Bensalem in January and it has a sports betting license so it can open up satellite sportsbooks.
According to VSO News, the company opened the Parx Race and Sports Book at the South Philadelphia Turf Club in January. The facility had to complete two days of testing before it could officially open. The South Philly venue can easily be reached by bettors from the South Philadelphia Sports Complex, which is home to major sports teams in Philadelphia.
If approved, the Valley Forge Turf Club will be the third sportsbook for Parx in Pennsylvania. The first was launched at the Parx Casino itself before the second sportsbook opened at the South Philadelphia Turf Club.
Pennsylvania sports betting
A total of 13 sportsbook licenses are available in Pennsylvania. So far, six have been issued. A license costs $10m (€8.7m; £6.7m), and taxes of 36% must be paid on revenues. Last year, the state saw three sportsbooks, the Sugar House Casino, Rivers Casino, and Hollywood Casino, begin offering services.
Parx launched its two books this year and the third, if approved, should launch later this year. The Presque Isle Downs has also submitted an application for sports betting and expecting to receive a reply at the next Pennsylvania Gaming Control Board meeting.