Centaur, Inc. to develop Pennsylvania project
Indianapolis-based company gets commission approval
(Harrisburg, PA) Centaur, Inc. received approval today from the Pennsylvania Harness Racing Commission to build and operate a mile-long harness track and gaming facility in northwest Pennsylvania.Valley View Downs will be developed by the Indianapolis-based company on a 250-acre site in Lawrence County, just 55 miles from Pittsburgh.
"This license has been worth the wait and we're excited about the prospects for economic vitality that this project will bring to the Western Pennsylvania region," said Roderick J. Ratcliff, Centaur's chairman and CEO. He said that the next step would be approval from the Pennsylvania Gaming Control Board.
"We can't predict when we might receive the final approval but we'll be ready to start building at such time as we are favored with a gaming license," he added. He estimated the project cost at $428 million with an estimated annual payroll of $33 million. "This should create 1,500 construction jobs and another 1,000 full-time and part-time jobs when we're operational, with more job opportunities as expansions occur," Ratcliff said.
When completed, Valley View Downs will have 150 live racing days on the one-mile racing oval and 363 days of simulcast. "We expect this facility to generate more than $40 million for purses and breed development," said Jeffrey M. Smith, CEO of Racing for Centaur. He added that the backstretch area, when fully developed, will feature eight barns with stalls for 712 horses, as well as a paddock with 145 additional stalls and dormitory facilities for 100 horsemen. Parking for hundreds of horsemen and their trailers or vans will also be included.
Smith said the clubhouse and entertainment facility will spread across 250,000 square feet, with two main levels featuring restaurants, lounges, concession stands, an outdoor terrace, tiered indoor viewing areas and a race book "tele-theater" to view races simulcast from other venues.Landscaped, paved and lighted parking for thousands of cars, with valet parking at the covered clubhouse entrance, will be available.
In addition to the boost it will give to the horse breeding and racing economies and the new construction and staffing jobs created, the project will generate an estimated $162 million annually for the state and up to $16.6 million annually for Lawrence County.
"We plan to make this site a unique entertainment venue, designed from the ground up as a truly integrated racing/gaming facility," Smith said. He said they will market to customers in a 100-mile radius, including Ohio and West Virginia, and hope to attract more than 4 million visitors annually. "We know there are about 4.7 million people over the age of 21 within the 100-mile radius and we feel confident that our project, as proposed, will become a destination site," he added.
About Centaur, Inc.
Centaur is an Indiana-based company involved in the development and operation of entertainment venues that include horse racing and gaming. Centaur owns Fortune Valley Hotel & Casino in Central City, Colo., and is an owner of Hoosier Park in Anderson, Ind., and off-track betting ("OTB") sites in Indianapolis, Merrillville and Fort Wayne, Ind.For more information, visit www.centaurgaming.net.
