Groundbreaking set for Bensalem casino

PhiladelphiaPark Casino in Bensalem will hold a groundbreaking Tuesday for its new $350 million casino.

Gov. Rendell, who signed the state's gaming legislation into law in July 2004, and is relying on gaming revenue to back his ambitious property tax relief plan, is expected to be at the ceremony.

PhillyPark, owned by Greenwood Gaming & Entertainment Inc., is one of seven slots parlors that have opened in Pennsylvania in the past year.

Dave Jonas, president and chief operating officer of PhillyPark, said the 250,000-square foot casino will open in late fall of 2009. It will house 4,000 slot machines, an entertainment center, sleek bars and cocktail lounges, and restaurants.

Groundbreaking for the new facility is also a victory of sorts for the Pennsylvania Thoroughbred Horsemen's Association. The horsemen's group, which represents 4,000 owners and trainers at Philadelphia Park, had previously accused Greenwood Gaming of seeking only to refurbish the existing Bensalem facility, instead of building a new casino.

PhillyPark and Chester Casino and Racetrack are cited by Wall Street analysts as the two Pennsylvania facilities that have had the most impact on Atlantic City's slots business since they are the two closest to the seaside resort.

Last month, PhillyPark grossed $28.6 million in slots revenue, edging out Chester Casino and Racetrack in Delaware County at $28.5 million, for the top spot among the seven Pennsylvania gambling halls.

Pennsylvania has a 55 percent tax on gross gambling revenue, while New Jersey's gaming tax is 9.25 percent.