Isle of Capri Casinos, Inc. and Nemacolin Woodlands Resort announced yesterday that the Supreme Court of Pennsylvania affirmed the Pennsylvania Gaming Control Board's selection of the proposed casino project at Nemacolin Woodlands Resort in Fayette County, Pennsylvania, for a Category 3 resort gaming license.
"We are pleased that the Supreme Court affirmed the Pennsylvania Gaming Control Board's decision to select Lady Luck Nemacolin for a Category 3 resort license. We designed a project that will exceed the goals of the Pennsylvania Gaming Act by boosting tourism, creating jobs and boosting state revenues while adding an exciting new amenity to this premier resort," said Virginia McDowell, Isle's Chief Executive Officer. "Much work has been done already, and much work continues including obtaining remaining necessary approvals from the Pennsylvania Gaming Control Board. We anticipate beginning construction as soon as all of the approvals are in place and expect to open Lady Luck Nemacolin 9-12 months after construction begins."
Maggie Hardy Magerko, president and owner of Nemacolin Woodlands Resort, commented, "The addition of Lady Luck Casino will give our guests an important new amenity that, we believe, will allow us to attract new guests to Pennsylvania from all over the country and world. We are pleased with this decision and look forward to working closely with our partners as we create an outstanding amenity at Nemacolin Woodlands Resort."
The casino, Lady Luck Nemacolin, is planned to be fully integrated into the guest experience at Nemacolin Woodlands Resort, and is expected to
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include 600 slot machines, 28 table games, and a casual dining restaurant and lounge. Located in Fayette County, Pennsylvania, Nemacolin Woodlands is one of North America's premier resort destinations, earning a Forbes Travel Guide Four-Star rating and a AAA Four Diamond Rating. Nemacolin Woodlands has also been honored as one of Travel + Leisure magazine's 500 Best Hotels in the World.
Situated on nearly 2,000 acres, the resort features 318 luxurious guestrooms, suites, townhouses, and private luxury homes, including the Forbes Travel Five-Star and AAA Five Diamond Falling Rock boutique hotel and clubhouse. In addition to the internationally acclaimed Woodlands Spa, the resort features the AAA Five Diamond and Forbes Travel Guide Five Star Lautrec Restaurant and offers 36 holes of golf on two championship courses.
Lady Luck Nemacolin should produce significant tax benefits for Pennsylvania, Fayette County and the local community. Based on estimated revenues, the project is expected to directly produce $35 million in new tax revenues every year, including over $30 million to Pennsylvania for property tax relief and other purposes, and $3 million in local taxes to the county and municipality. (E-08.22.12)
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