The matter is tied up in court. For now, SugarHouse is the only casino in the city.
"A western Philadelphia location would add approximately 10 percent, or $10 million more, in revenues than the Foxwoods site, but would still be considerably lower [in revenues] than developing in a less competitive location, like South York or Reading," said the 88-page report released Tuesday in Harrisburg by Pennsylvania Treasurer Robert M. McCord.
City Avenue is a more attractive site than the proposed Foxwoods site on Columbus Boulevard between Tasker and Reed Streets. A South Philadelphia site would raise only $90 million a year because of competition from the expanding SugarHouse Casino and Harrah's racetrack/casino in Chester, the study concluded. By comparison, a City Avenue or West Philadelphia casino would produce $98.4 million a year.
McCord presented the report - assembled by the Innovation Group of New Orleans - to the Senate Community, Economic and Recreational Development Committee. He said it was intended to be a tool for legislators, policymakers, and the public to make future decisions on the state's gambling industry.
The study arrives at a time when state regulators and lawmakers are mulling what to do with the two remaining licenses still to be awarded, including one reserved for a yet-to-be-built racetrack and one that must be in Philadelphia. Based on the study's findings, McCord said, the state should proceed cautiously in awarding those licenses.
The report ranked 11 potential casino sites based on their potential annual revenue, and West Philadelphia/City Avenue came in fifth. South York ranked first, with the potential to produce an estimated $153.9 million a year, followed by Reading at $124.8 million a year.
Valley View in Schuylkill County placed third at $122.7 million, and Chambersburg, in south-central Pennsylvania, finished fourth at $106.6 million.
