Scranton businessman Bob Bolus is proposing that the financially troubled Steamtown Mall be turned into a resort casino. Bolus has told the Examiner that he will be spearheading an effort to buy the Steamtown Mall and convert it into a resort casino. He has spoken with a group of yet to be named investors who have expressed a sincere interest in the project.
It may be an uphill battle for the group, since the next resort casino license becomes available in 2017, unless the legislature authorizes another license. Bolus has said that he has begun contacting local legislators in an effort to push the project forward.
"A resort casino in downtown Scranton would be a tremendous boon for not only Scranton but all of Lackawanna County," Bolus said from his office in Throop. "This project will lead to a rebirth of the City of Scranton. The tax benefits are tremendous. In a few years, Scranton and Lackawanna County could see substantial reduction in taxes. The potential of this tax revenue could make Lackawanna County and the City of Scranton tax free and reduce the city's debt of $300 million to zero."
"The investors I spoke with are very excited about this project," Bolus said. "They see tremendous potential in the Steamtown Mall site. I am excited as a life long Scranton resident when I think of the benefits the tax revenue could provide to both the city and the county. The city can't keep borrowing to get out of debt. Casino tax revenue is the answer to Scranton's financial woes. This project is a win for the people of Scranton and all of the businesses that would benefit from it."
Scranton is the state's sixth most populous city.