Nutter to board: Decide on casino license

At a meeting Tuesday of gambling regulators from around the world, Mayor Nutter urged the Pennsylvania Gaming Control Board to finally vote on the second casino license in Philadelphia.

"The record's been closed for some time," said Nutter, referring to public suitability hearings, where applicants made their cases before the board members - which took place eight months ago at the Convention Center.

Speaking generally of deliberative bodies, Nutter said, "Taking action is very important." It should be "decisive action," he said. Doing nothing is "the worst."

Gaming board member Gregory C. Fajt, who introduced Nutter at the conference of the International Association of Gaming Regulators at the Philadelphia Marriott Downtown, said later that Nutter was a friend and that he appreciated the mayor's honesty.

"The mayor is anxious for us to make a decision," Fajt said. "We're still deliberating and hopefully, we'll make a decision soon."

Fajt would not say whether a decision could be expected before the year was out.

The gaming board has two more regularly scheduled meetings this year, on Nov. 19 and Dec. 10, though it could call a special meeting to announce a decision.

The contenders for the second Philadelphia license are Market8 at Eighth and Market Streets; the Provence at Broad and Callowhill Streets; Live Philadelphia at 900 Packer Ave.; and Casino Revolution at Front Street and Pattison Avenue.

Separately, Gaming & Leisure Properties Inc. is trying to back out of its agreement to buy the Meadows Racetrack & Casino in Western Pennsylvania for $465 million.

Gaming & Leisure, based in Wyomissing, Pa., alleged in a federal lawsuit filed Monday in New York that the owner of Meadows, Cannery Casino Resorts L.L.C., a Las Vegas company, provided 2014 earnings projections that were a "fantasy."

Cannery's latest 2014 earnings projection, made in September, was $44.1 million, down 23 percent from the original projection of $57.7 million, and 18 percent below 2013 earnings, the lawsuit said.

The complaint, in U.S. District Court for the Southern District of New York, is seeking a declaration that Cannery breached the terms of the April purchase agreement because "Cannery did not truthfully disclose the Meadows' declining performance."

Cannery said the suit by Gaming and Leisure is without merit.

Gaming & Leisure, a real estate investment trust, was spun off from Penn National Gaming Inc. a year ago to own most of Penn National casinos, while Penn National continued operating them.

Meadows would be Gaming & Leisure's second acquisition since the spin-off. It bought Casino Queen in East St. Louis, Ill., in January for $140 million.

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