Tuesday, May 26, 2015

Blatstein plans 'lavish' launch for Philly casino plan

Does Philly need another casino?

Blatstein plans 'lavish' launch for Philly casino plan

The front of the Philadelphia Inquirer and Daily News building at 400 N. Broad Street.
The front of the Philadelphia Inquirer and Daily News building at 400 N. Broad Street.

Developer Bart Blatstein's Tower Investments plans an invitation-only "lavish launch party" to "unveil" its planned "unprecedented" $700 million resort and casino complex on the site of the former home of the Philadelphia Inquirer and Daily News," N. Broad St. at Callowhill, on Oct. 24, to 150 Philly "movers and shakers" at Tendenza, the catering hall at Blatstein's Piazza development at the old Schmidt's Beer site near 2d and Girard. (Blatstein's PR release originally said $1 billion but has amended the number lower.)

Blatstein will vet the proposed development for his crowd before submitting it to the Pennsylvania Gaming Control Board, which is fielding proposals for a second Philly casino, with a Nov. 15 proposal deadline.

Does Philly need another casino, when local venues in Chester, Valley Forge, Fishtown and Bensalem are wrestling for customers, and Atlantic City's gambling halls are foundering?

Sure, says Blatstein in his statement: "The sheer size, scope and multi-faceted amenities of this unique resort and casino complex will make it a regional tourism attraction that will ignite other area development and push the prosperity and boundaries of Center City north on Broad Street." And we're betting contractors, union workers, hotel and parking operators, and local government agencies that will benefit from more betting will line up on Blatstein's side. 

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About this blog

PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, distefano251@gmail.com, 215.854.5194 or 302.652.2004.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano