Commercial Gaming

Happy Valley Casino Underwhelms with Less Than $3.6M in First-Month Revenue

Posted on: June 18, 2026, 10:56h.

Last updated on: June 18, 2026, 11:49h.

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Devin O'Connor Devin O'Connor is a senior reporter for Casino.org, covering politics, casino business, and gaming news. Devin came on board with Casino.org in 2014...
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Happy Valley Casino generated gaming revenue of $3.6 million in its first full month
The casino is just miles from the Main Campus of Penn State University

Penn State’s football season could prove a crucial lifeline for the newly opened Happy Valley Casino, which labored to draw significant action during its first full month of operation.

Happy Valley Casino Pennsylvania GGR — The exterior of Happy Valley Casino, a $120 million satellite casino that opened in April 2026. In its first full month in business, the casino won less than $3.6 million from players. (Image: Submitted)

On Wednesday (June 17), the Pennsylvania Gaming Control Board reported that Happy Valley Casino generated May gross gaming revenue (GGR) of $3,567,771. The Category 4 mini-casino opened to the general public on April 27, following two state-mandated regulatory test days on April 24-25.

The bulk of Happy Valley’s casino revenue came from its 600 slot machines, with the reels accounting for $3.1 million. The casino’s live dealer games won less than $500,000.

Despite much fanfare and player promotions and incentives, Happy Valley ranked 17th among the 18 brick-and-mortar casinos in Pennsylvania in terms of May GGR.

Parx Casino was the state leader, with in-person GGR of more than $52.5 million.

Slow Start

How does Happy Valley Casino’s start compare with the four other Cat. 4 casinos in the commonwealth?

Live! Casino Pittsburgh, Pennsylvania’s first so-called “mini-casino,” opened in Westmoreland in December 2020. Its first full month, despite opening amid the pandemic, saw GGR of $7.1 million. Live! Pittsburgh turned a Bon-Ton department store into a casino.

Hollywood Casino York, which generates the most GGR among the Cat. 4 properties, opened in September 2021. That month, the casino, which took the space of what was formerly a Sears department store, posted GGR of $7.8 million.

Hollywood Casino Morgantown, a new brick-and-mortar structure located off the Pennsylvania Turnpike, opened in January 2022 and won $4.5 million from players that month.

The only Cat. 4 casino to open with less GGR than Happy Valley was Parx Casino Shippensburg.

That casino opened in the 28-day month of February and managed GGR of more than $3.2 million. Happy Valley had three more operating days than Parx Shippensburg in its first full month.

Executives with Happy Valley, a project from Penn State alumnus Ira Lubert, who sold a controlling stake in the enterprise to Saratoga Casino Holdings before it opened, can remain happy, for now. The $120 million casino investment, which replaced a Macy’s anchor store at the Nittany Mall, is certainly based on the presumption that the facility will be bustling when school is in session at nearby Penn State University and more than a hundred thousand fans descend on the remote college town on Saturday gamedays for Penn State football.

Record Month

The PGCB said May was a record month for statewide GGR, with players losing almost $625.5 million to the casinos, online casinos, sportsbooks, video gaming terminals, and fantasy sports operators. May marked a 4% year-over-year gain.

The revenue total was the highest monthly amount to date of revenue from the types of gaming regulated by the agency: slot machines and table games in casinos, internet gaming, sports wagering, fantasy contests, and video gaming terminals. The previous high was achieved in January 2025 at $623,092,053,” the PGCB said.

Hollywood Casino at Penn National Race Course led the market, with GGR of $115.5 million. Hollywood’s iGaming operations dominate the online gaming segment, with revenue totaling upwards of $75.3 million.

Devin O'Connor is a senior reporter for Casino.org, covering politics, casino business, and gaming news.

Devin came on board with Casino.org in 2014. He lives in Arlington, Va.

Conversation (41 comments)

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Andrew June 18, 2026

@Stephen Hilton - Happy Valley Casino's developers spent at least $120 million developing their casino. Based on their first month's financials (which were boosted… @Stephen Hilton - Happy Valley Casino's developers spent at least $120 million developing their casino. Based on their first month's financials (which were boosted by the tail of the surge in gambling associated with the casino's opening, and also by the tourist traffic from Penn State's graduation weekend and Senior Week), they appear to be bringing in about $43 million in gambling winnings per year. However, the casino operators also have to cover $16 million - $19 million per year in payroll expenses, as well as pay for maintenance, utilities, property taxes, interest on any loans used to finance the casino's development, etc.... After all these expenses have been paid, the casino's net annual profit is probably something on the order of $15 million - $20 million per year. At that rate, they will need around 6 - 8 years just to recoup their initial investment. Alternately, if the casino developers had just invested their $120 million in treasury bonds paying 4% interest instead of building the casino, they would have gained between $32 million - $44 million in 6-8 years instead of just breaking even -- or if they invested in stocks that returned 10% per year, they would have gained between $92 million - $137 million in the same timeframe. In short, they would likely have achieved a much greater return on their investment just by putting their money in a passively managed stock market index fund.

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NT

Not Holy as Thou June 18, 2026

Well cry me a river, what a bunch of sour grapes this casino is to all of you people who won’t go there anyway! These comments… Well cry me a river, what a bunch of sour grapes this casino is to all of you people who won’t go there anyway! These comments at laughable. I’m guessing none of your kids go to that state college. And to that end, all of their “rich” parent’s money that they lose in your local casino will support your local jobs. Like your niece or cousin. Keep clutching your pearls ladies, the bitter sentiment is just that. Maybe you’re all so well off that nobody needs a job.

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NT

Not Holy as Thou June 18, 2026

Well cry me a river, what a bunch of sour grapes this casino is to all of you people who won’t go there anyway! These comments… Well cry me a river, what a bunch of sour grapes this casino is to all of you people who won’t go there anyway! These comments at laughable. I’m guessing none of your kids go to that state college. And to that end, all of their “rich” parent’s money that they lose in your local casino will support your local jobs. Like your niece or cousin. Keep clutching your pearls ladies, the bitter sentiment is just that. Maybe you’re all so well off that nobody needs a job.

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SH

Stephen Hilton June 18, 2026

Imagine being such a negative Nancy that 3.6 million in a month was deemed a failure and a sign you'd go out of business. All… Imagine being such a negative Nancy that 3.6 million in a month was deemed a failure and a sign you'd go out of business. All I'm seeing here are posts from the people who are still crying the blues the place even opened. You took your best shot and you lost. The casino is here and it only stands to grow. Consider they put up 10 million for the license and bought the building for about 20 million more. Even if they remain stagnant, they'd pay for the investment in under a year. What other venture can say that? Arts Fest and Football weekends will set the tone. Right now is a practice run for when the town gets busy.

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Sharon June 18, 2026

Recently read Pennsylvania is number one with gambling addictions, ahead of Vegas. I hope Happy Valley Casino flops! What was it, the first night a woman… Recently read Pennsylvania is number one with gambling addictions, ahead of Vegas. I hope Happy Valley Casino flops! What was it, the first night a woman was found deceased in the parking lot? We didn't/don't want you here!

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Steve June 18, 2026

The unwanted casino at Nittany Mall will fail and drag the mall the final few feet for burial. Then, hopefully the powers that be in… The unwanted casino at Nittany Mall will fail and drag the mall the final few feet for burial. Then, hopefully the powers that be in College Township will encourage positive, useful investment and not an economic and moral drag on the area.

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SY

S Young June 18, 2026

I am still less than pleased that this casino came to our area. We live mere blocks from the site, and it is a… I am still less than pleased that this casino came to our area. We live mere blocks from the site, and it is a sad thing avoiding that end of the mall. I am very sorry to hear of increased traffic accidents in the area too. We are getting on in years and this is so definitely not what we wanted the neighborhood to look like at this stage of our lives. You could have put in a carousel. Thank you DevinO for the excellent article and update.

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DH

David Hatfield June 18, 2026

Speaking for 95+% of the community who made clear we didn’t want a casino I’m glad (and not surprised) it did poorly its first month.… Speaking for 95+% of the community who made clear we didn’t want a casino I’m glad (and not surprised) it did poorly its first month. I hope they are unsuccessful in preying on college students and that it’s forced to shut down in a few years.

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RH

R Hudson June 18, 2026

This "business" is only here because Penn State Trustee Ira Lubert, assisted by the Pennsylvania Gambling Commission, ignored the will of over 95% of Township… This "business" is only here because Penn State Trustee Ira Lubert, assisted by the Pennsylvania Gambling Commission, ignored the will of over 95% of Township and Centre Region residents. We didn't want it then and we don't want it now. None of our friends, family or acquaintances patronize it, and we'll keep discouraging them and others to do so.

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GC

GerneyLee Carter June 18, 2026

I wish I has something more concrete, like numbers that predict failure. All I have is a sad quality of life prediction. And… I wish I has something more concrete, like numbers that predict failure. All I have is a sad quality of life prediction. And who knew the rural Pennsylvania Deutch tight stingy folks would want to sit and lose money?

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A

Andrew June 18, 2026

Based on the Google reviews for Happy Valley Casino and the feedback under some of the posts on the casino's Facebook page, many people who… Based on the Google reviews for Happy Valley Casino and the feedback under some of the posts on the casino's Facebook page, many people who have gone to Happy Valley Casino find the casino's service to be slow, the slot machines to be too tight, and the table game minimums to be too high. Also, people do not like having to wait in line for extended periods so that everyone who enters at the casino's single operable entrance can be carded regardless of how old they are. Additionally, people do not like machines being inoperable and payouts being delayed due to system malfunctions. If you are thinking of visiting this casino, do your research first - it may save you a trip and a lot of aggravation!

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CF

Cynthia Kay Flick June 18, 2026

I live in the area. We never wanted this Casino in our town and we STILL don't want it here. This shopping mall… I live in the area. We never wanted this Casino in our town and we STILL don't want it here. This shopping mall could have been turned into a lovely apartment complex for seniors with a community/walking space down the center. NOT a casino calculated to entice the nearby college students. Good to hear it is doing so badly.

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DB

Dave Borch June 18, 2026

A third-grader could figure out that the money a casino “makes” is money out of working people’s pockets. Let’s hope this blight on the local… A third-grader could figure out that the money a casino “makes” is money out of working people’s pockets. Let’s hope this blight on the local economy goes out of business sooner rather than later.

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K

Kanye June 18, 2026

Let’s pray this gets shut down!! It’s horrible

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D.J. June 18, 2026

Bottom line up front: The Happy Valley Casino in State College will fail financially and close by 2028. The folks in this college town struggled… Bottom line up front: The Happy Valley Casino in State College will fail financially and close by 2028. The folks in this college town struggled to pay for gas when it recently spiked to nearly $5.00 a gallon. Table game minimums are never less than $15 — so do the math for four or five quick hands of blackjack. Attrition at the casino has already begun to accelerate as seen on the PA Gaming Control Board’s website and filed under docket number 14188-2026. Watch for the casino’s eventual closure announcement before 2028.

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