South Philadelphia Live!
The developers of Live! Hotel and Casino propose to convert the site of an existing Holiday Inn in the stadium district of South Philadelphia into a gambling and entertainment complex. The site is in close proximity to Lincoln Financial Field, Citizens Bank Park and the Wells Fargo Center, as well as the Xfinity Live! complex and nearby residential areas of South Philadelphia.
Live! Hotel and Casino - Stadium Casino, LLC
900 Packer Ave. (the corner of Packer Avenue and Darien Street)
2,000 slot machines and 125 table games, including 92 banking games and 33 poker tables
200,000 square feet for the gaming facility, plus a 220-room hotel.
A “world-class hotel-casino that will complement the existing stadium district venues to create a destination like none other in the country.” Live! Hotel and Casino would be an entertainment complex with gambling, dining, music venue and hotel.
Live! proposes a casino, boutique hotel, six restaurants and an “intimate” music venue. The principals envision Live! as “one of the major gaming, resort and entertainment destinations in the eastern United States, combining integrated casino, hotel and entertainment facilities.”
Plans call for:
A “Las Vegas style” casino with 100,000 square-foot gaming floor that would be open 24 hours a day, seven days a week.
Another 10,000-square-foot entertainment venue and 6,500-square-foot private event space.
Six restaurants ranging “from high-end options to a modern diner concept, a food court and a celebrity chef concept.”
Renovation of the existing Holiday Inn hotel and conference center into a 220-room hotel with a pool, spa, fitness facilities.
A 1,000-person music venue and rooftop party deck.
The site is accessible via SEPTA’s Broad Street Line and several bus routes, and is also close to major interstates and the Walt Whitman Bridge. Valet parking will be available at the casino, or drivers would use a 2,600-space, self-parking garage.
The principals expect the development to draw four million visitors annually. The group says its plan will capitalize on the eight million people who already visit the stadium district each year, as well as draw new gamblers from South Jersey.
The development would employ about 1,246 workers, plus generate another 3,000 construction jobs.
Live! Hotel and Casino is a joint venture of Greenwood Racing, Inc. (GRI) and Cordish Companies.
Greenwood Racing owns Parx Casino in Bensalem, the highest-revenue-generating casino in the state. Greenwood operates the Atlantic City Race Course and other off-track betting facilities. The company’s key principals include CEO Anthony Ricci and Robert Greene, the chairman and founder.
Baltimore-based Cordish operates multiple casinos and entertainment complexes across the country, including Xfinity Live! in Philadelphia. It operates the recently opened Maryland Live! Casino. The company also owns urban mixed-use projects in Houston, Kansas City and Atlantic City, among others. Its key principals include brothers Jonathan, Blake and Reed Cordish, as well as company partners Joseph Weinberg and Charles Jacobs.
How they’ll pay for it
Live! Hotel and Casino says it currently has the funds.
Source: Pennsylvania Gaming Control Board
Click here for complete coverage of the bid for a gaming license in downtown Philadelphia.