Since retail sales outlets for beer and wine were expanded last summer through Act 39, the Pennsylvania Liquor Control Board has auctioned off more than 100 expired restaurant liquor licenses.
The auction format tends to favor larger retailers with deep pockets, as top bidders have just 14 days from the date of selection to remit the full bid payment to the PLCB.
Here’s how the three auctions have broken down so far.
Giant Food Stores LLC bid more than $500,000 on four licenses in the first state auction. No other bidders have cracked $500,000 in the three auctions.
Allegheny and Philadelphia counties have each had 8 licenses auctioned to the highest bidders, the most in the state.
Expect to see more auctions in the future. The PLCB has accumulated about 1,200 expired licenses since 2000.
The minimum bid is $25,000 for each license. The highest bidder wins the right to submit an application for the license to the PLCB within six months of auction award.