SC Gaming and Saratoga Casino Holdings on Friday announced the closing of a previously disclosed framework agreement, under which SCH becomes the majority owner of Happy Valley Casino, a Category 4 gaming facility planned for State College.
Saratoga Casino Holdings was granted a license to operate in Pennsylvania in December.
At the time, SCH CEO Sam Gerrity said “as a third-generation, family-run business with more than 80 years in the horse racing industry and 20 years in casino, hotel, and entertainment operations, we are extremely proud to receive our Pennsylvania gaming license. This milestone further expands our diversification within the gaming industry and reflects our long-standing commitment to operating best-in-class gaming facilities.”
Saratoga Casino Holdings and SC Gaming will jointly develop and manage Happy Valley Casino, combining Saratoga Casino Holdings’ operational experience with SC Gaming’s local leadership and project development expertise.
“Happy Valley Casino marks an exciting new chapter for Saratoga Casino Holdings,” Gerrity said in a statement. “Pennsylvania is one of the most dynamic gaming markets in the country, and this partnership with SC Gaming provides an outstanding opportunity to bring Saratoga’s proven operating experience to State College. We are proud to be part of a project that will create jobs, support the local economy, and enhance entertainment options for the region.”
Eric Pearson will serve as CEO of SC Gaming and General Manager of Happy Valley Casino. He will lead the joint venture and oversee development and future operations.
“This agreement represents a significant milestone for the Happy Valley Casino project as we move toward opening just months away,” said Pearson. “Partnering with Saratoga positions us to deliver a modern gaming destination that meets the highest regulatory and operational standards, creates meaningful employment opportunities for the community, and serves as a powerful new driver of economic activity for Centre County.”
Happy Valley Casino is targeting a grand opening in April, subject to receipt of required approvals from the Pennsylvania Gaming Control Board. Happy Valley Casino is expected to employ more than 300 team members. In preparation, the Happy Valley Casino Dealer School, located at the Happy Valley Casino Hiring Center in the Nittany Mall, has more than 100 students enrolled and training for table games and casino operations.
Happy Valley Casino plans to feature about 600 slot machines, 30 table games, and two food and beverage venues, Aces Social and Lucky Break Café. The facility will operate as a fully non-smoking casino, with initial operating hours from 10 a.m. to 2 a.m. daily.
Innovation Capital served as financial advisor to SC Gaming in connection with the transaction.