Parx Casino Opens Valley Forge Race & Sportsbook

Last week, Parx Casino opened their third retail sportsbook, this one at Valley Forge Turf Club, near Pennsylvania’s famous Valley Forge National Historic Park. This makes the eighth sportsbook to open in the state since the recent legal changes made sports betting legal in Pennsylvania.

Valley Forge Turf Club Details  
600 Cresson Blvd. Oaks, PA 19456(610) 650-0100www.parxracing.com/turf_vf.php

Parx is killing it

Parx Casino has been tearing it up on the retail sportsbook front. The Pennsylvania Gaming Control Board (PGCB) authorized Parx to begin sportsbook operations in January of this year and have now opened three retail sportsbook locations.

Their first sportsbook opened in January 2019 at their main casino location, in the Bensalem area of Philadelphia. Their second opened just a couple weeks later at the South Philly Turf Club, close to three of the city’s major sports facilities.

Now Parx is surging forward with this third retail location at Valley Forge Turf Club. They are moving faster than any other Pennsylvania casino in leveraging the $10 million license to operate a legal sportsbook in the state. The five other Pennsylvania casinos who have been authorized to launch sportsbooks in the state have yet to expand beyond their primary casino retail location.

This was the second sportsbook to open in the Valley Forge area. Earlier in the month, the Valley Forge Resort Casino launched their own sportsbook, partnering with FanDuel to run their sports betting operation.

A closer look at Valley Forge Race and Sportsbook

This new Valley Forge Race and Sportsbook at the Valley Forge Turf Club will be operated by Greenwood Gaming and Entertainment (the owner of Parx Casino) in conjunction with their sports betting technical partner, Kambi.

The Valley Forge Turf Club is located in Oaks, PA, off the Pennsylvania Turnpike and just five minutes away from the competition at Valley Forge Resort Casino. Both properties are very close to the Valley Forge National Historic Park.

Of the six sportsbooks now in the larger Philadelphia area, only these two are positioned to serve customers in the Northwestern Philadelphia suburbs.

The Valley Forge Turf Club opened in 1996 as an off-track betting facility. It was rebranded as the Valley Forge Race and Sportsbook just this month in preparation for legalized sports betting to be added to its list of offerings.

Sports bettors will have most standard sports and betting options to choose from at Valley Forge Race & Sportsbook. Lines are offered on NFL, NBA, MLB, NHL, college football, college basketball, boxing, MMA, and many more sporting competitions. In addition, many types of wagers are available: point spread and money lines, totals, props, teasers, and parlays.

To handle the crowds on busy days and nights, the Valley Forge Race and Sportsbook will have fourteen betting kiosks and six live tellers available to accept bets.

The sportsbook has over 100 high definition television displays to watch the games and has also upgraded their kitchen, expanding their food and beverage menu.

Valley Forge Race and Sportsbook hours of operation:

  • Monday-Friday: Noon to 11pm
  • Saturday: 10am to Midnight
  • Sunday: 10am to 11pm

 

Valley Forge FanDuel Sportsbook In PA

Valley Forge Applies For PA Sports Betting License

On the same day that Hollywood Casino began testing sports betting for an imminent launch on Saturday, Valley Forge revealed that they had applied for a sports betting license in the state.

Valley Forge joins a growing list of five other PA casinos that have so far signed on to offer sports betting in Pennsylvania.

In a filing to the Pennsylvania Gaming Control Board on Wednesday, Valley Forge cited Betfair Interactive as a partner on the casino’s sports betting platform. FanDuel is a subsidiary of the company and is currently the second largest sportsbook in New Jersey. They offer a FanDuel-branded brick and mortar sportsbook at the Meadowlands as well as an online sportsbook at FanDuel.

Valley Forge has been among the many PA casinos that have been busy this year. They were approved to offer online gambling in early October. That $10 million license allows Valley Forge to offer online poker, online slots, and online table games. Valley Forge has partnered with software platform IGT to run at least a portion of their casino platform.

Who are the other PA sportsbooks right now?

For some time during this summer, it almost looked as though few if any PA casinos would apply for sports betting. At the very least, casinos would be extremely cautious in approaching the industry. Concerns have been raised regarding the state’s high tax rates on sports betting revenue as well as a $10 million license fees.

But slowly but surely, nearly half of PA casinos have decided that sports betting can be profitable or at least be used as a loss leader.

Prior to Valley Forge’s license submission, all five PA casinos that had applied for licenses had been approved.

Hollywood Casino (owned by Penn National Gaming), launching November 17th
Rivers Casino (Rush Street Interactive), launching by early December
SugarHouse (Rush Street Interactive), launching by early December
Parx Casino and Philly Turf Club (owned by Greenwood Gaming and Entertainment), launching by end of 2018, early 2019
Harrah’s Philadelphia – no known launch date
– Valley Forge – applied November 15th

FanDuel Sportsbook Coming To Pennsylvania At Valley Forge Resort Casino

FanDuel teams up with Boyd to tackle the US market

Valley Forge Casino hasn’t yet taken advantage of the new legal landscape in Pennsylvania and applied for a sports betting licence, but it soon will. We know this because a deal between FanDuel and Valley Forge Casino owner Boyd Gaming Corp (BGC), has been finalized, ensuring FanDuel a strong presence in the burgeoning legal US sports betting market.

The endeavor began earlier this year, when Irish gaming company Paddy Power Betfair (PPB) bought a controlling interest in the well known daily fantasy sports (DFS) company Fanduel. It was a synergistic acquisition and it gave PPB the perfect company and brand to use in America.

Soon after the acquisition, FanDuel made a deal with BGC that gives FanDuel legal access to the sports betting market in all US states where BGC currently has a gaming license. The deal also applies in states where BGC has partnered with MGM Resorts to share licences and market access. The only state left out of the deal is Nevada’s already well-developed sports betting market. In return, BGC gains a much needed technology partner, a veteran sports book, and a well-known brand with which to bring legal sports-betting to the (potentially 49) US states who have gone without it for so long.

Everybody wins

This partnership gives both companies a whole lot of what they need right now.

Keith Smith (BGC’s president and CEO) said, thanks to the partnership, his properties “will be positioned to build market-leading sports-betting and online gaming operations in each state.”

Matt King (FanDuel Group CEO) echoed similar sentiments, saying:

“With more than 40 years of experience, Boyd Gaming is a leader in the gaming and entertainment space, and a natural partner as we continue to build a leading position in the sports betting market. There is incredible momentum in the sports betting space and we look forward to partnering with Boyd Gaming to bring the FanDuel Sportsbook to more customers across the United States.”

PA makes three… so far

FanDuel already has established a presence in two US states (New Jersey and West Virginia) and with this deal, Pennsylvania makes three. In New Jersey, FanDuel’s partner casino is Meadowlands Racetrack, where they launched a brick and mortar sports book in June. In West Virginia (where sports betting launched just this week) FanDuel has partnered with two casinos and will soon have their sports books up and running.

FanDuel has (and will surely make more) strong casino partnerships and also has a clear commitment to acquiring and serving a broad US sports betting market. They’re active in three US states so far, and many more are sure to follow soon.

How soon can bets be made at Valley Forge?

As mentioned above, Valley Forge hasn’t yet officially applied for a PA sports betting license or paid the $10 million fee. Despite that high initial cost (not to mention the 36 percent tax rate PA is to levy on sports betting), they will be doing so as quickly as they can.

It’s unlikely they will be ready for a license hearing at the next (Sept 12) meeting of the Pennsylvania Gaming Control Board (PGCB), but they could be ready by the next scheduled meeting on Oct 2.

If they do, how quickly can they begin accepting bets? PGCB regulations state that sports betting license applications must be submitted 90 days in advance of the launch of operations. Despite this, if the application process goes smoothly and the PGCB shortens the timeline with quick approval, it’s possible that the FanDuel Sportsbook at Valley Forge Resort Casino could go live in November or December of this year.

Until then, what to do?

Pennsylvanian’s who can’t wait to scratch their sports-related gambling itches might want to consider another brand new gaming opportunity in the state. The Pennsylvania Lottery has recently launched a lottery game (two actually) called Xpress Sports. It’s not real football (or car racing), but it has the look and feel of betting on those two types of sporting contests. It’s a lot of fun and totally legal, and best of all, you can win real money.

There is also the Pennsylvania Online Lottery. It’s also legal, quick, and fun, and played for real money. There are two nice bonuses now available too. New players get $5 free to play when they sign up and players get a 50% bonus up to $50 when they make their initial deposits onto the site.

 

Valley Forge Casino Purchased by Boyd Las Vegas

Boyd Gaming Acquires Valley Forge Casino For $280 Million

Las Vegas’s Boyd Gaming has announced that they are set to acquire the Valley Forge Casino Resort for a price tag of $280 million.

Upon completion of the deal, the property will become Boyd Gaming’s first property in Pennsylvania. The deal is expected to be completed sometime between the middle to later part 2018.

Boyd Gaming’s acquisition of Valley Forge comes less than two months after Pennsylvania passed a wide ranging expansion of gambling that includes online gambling, additional brick and mortar operations as well as daily fantasy sports.

The company has already planted their feet in the regulated online gambling market, which operates the Borgata online casino and poker room in New Jersey. Pennsylvania is expected to become the 4th state to go live with online gambling by the middle of 2018.

Boyd Gaming chief executive Keith Smith said that Boyd has high hopes for the company’s entry into the country’s second largest casino market

“The acquisition of Valley Forge Casino Resort is another excellent opportunity to further grow and diversify our nationwide portfolio. With this acquisition, we will expand into the second-largest gaming state in the country, establishing a presence in a densely populated, high-traffic area just west of Philadelphia.”

Valley Forge Casino shows large growth during 2017

The Valley Forge Casino Resort is located in the Upper Merion Township near King of Prussia. Currently owned by an ownership group that includes investor Ira Lubert, the casino features over 600 slot machines and 50 table games with a table game lineup that includes blackjack, craps, roulette and other games. An additional 250 slot machines are planned for 2018.

The casino opened in March of 2012 and offers guests nearly 500 hotel rooms. They were ranked 11th on the list of top PA casinos during the month of November with over $9.5 million in total gaming revenue with $3.3 million coming from table games, representing an increase of nearly 34%.