Finally, a brand new casino in Philadelphia took another important step toward becoming a reality earlier this week after City Council Rules Committee gave preliminary approval without dissent for the plan at a public hearing that took place on Monday.
A vote on zoning is anticipated by 3rd Dec, as per The Philadelphia Tribune. The casino has already beat out a few other contestants for the state license. The Las Vegas-style new casino, to be named Live! Hotel & Casino Philadelphia, would be a part of SugarHouse Casino as the only casinos in city limits. There are 2 more casinos placed just outside Philadelphia.
A report published on a website reported that he whole venture is a joint project between Cordish Cos. and Greenwood Gaming & Entertainment. As per to the firms, US$ 400 million in economic benefits would be fathered during construction. It is expected that the casino would generate gaming revenue of over US$ 300 million per year.
The complex would have 2-million square feet of gaming floor space, along with two-thousand slots as well as over hundred-twenty-five table games. The casino’s master plan was sanctioned in October. This casino would be the thirteenth in the state of Pennsylvania that has casino gambling revenue of a bit over US$ 3 billion a year, but it has not grown over the last 2 years. Lawmakers in the state are thinking of legalizing online casino games in an effort to shore up the industry.