January 11, 2011 |
The partners in the derailed Foxwoods Casino have petitioned the Pennsylvania Gaming Control Board to reconsider its revocation of the project's license, arguing that they now have the requisite financing and could start construction immediately. In a statement Monday, the investors' group, Philadelphia Entertainment & Development Partners (PEDP), said it had "prepared the necessary work and taken the necessary steps to address and satisfy all the unresolved matters cited by the board.
August 10, 2010 |
In a sign that it might soon take over the troubled Foxwoods Casino project, Harrah's Entertainment Inc. has written off $52.3 million in debt owed by the local investor group for the 16.5-acre site on the Delaware waterfront in South Philadelphia. The disclosure was contained in Harrah's financial results for the second quarter, which ended June 30. According to people familiar with the deal, forgiveness of the debt, incurred in 2005, is part of the negotiations to transfer control of the Foxwoods project to Harrah's.
September 26, 2011
It would be better news if state officials had announced a commitment to stop relying on gambling to fund Pennsylvania's needs. But at least Philadelphia residents can gain some satisfaction from state Treasurer Rob McCord's assessment that this town should not host the next big casino. After surveying the most lucrative sites for yet another casino, McCord concluded that Philadelphia probably would not raise the most money for the state treasury. Both the York and Reading areas would bring in more revenue, McCord reported in a ranking of 11 potential casino sites.
July 6, 2010
What's keeping the controversial Foxwoods Casino project afloat on the Delaware River waterfront in South Philadelphia? The proposed casino is in a poor location that residents oppose, and doesn't appear to have enough financing or a properly licensed operator. Casino mogul Steve Wynn came to save the project in April, looked around, and quickly jetted back to Las Vegas. Now comes the stunning news that three years after Foxwoods received its license, two of the high-profile investors - real estate developer Ronald Rubin and New Jersey lawyer and entrepreneur Lewis Katz - have yet to be vetted by state regulators.
October 8, 2008 |
The proposed Foxwoods Casino in the Gallery at Market East could open by December 2009, the chief executive officer of Foxwoods' financial partner said yesterday. "It's rational and it's doable," Brian R. Ford, head of Washington Philadelphia Investors LP, said after a meeting at the Union League of the Central Philadelphia Development Corp. "We're weeks away" from having architectural plans for the 3,000-machine slots parlor, Ford said, not specifying how many weeks. "It could be nine or 10. " At Foxwoods' former site on the South Philadelphia waterfront, the construction timeline was 18 months to two years, Ford said.
September 28, 2012
As the SugarHouse Casino slogan says, Philly loves a winner - and so, it seems, do crooks. In a criminal gambit that began troubling the waterfront casino within months of its debut, police say thieves once again are targeting gamblers after they head home with their winnings. Philadelphia detectives are on the lookout for a gang that followed at least five SugarHouse patrons who were robbed after being threatened with a Taser stun gun. The robberies so far have netted around $44,500.
December 4, 2007 |
The Pennsylvania Supreme Court went over Philadelphia's head yesterday and cleared the way for construction to begin on the $550 million SugarHouse casino in Fishtown and Northern Liberties. Finding "deliberate inaction" in City Council's longstanding failure to vote on SugarHouse's zoning and land-use requests, the court took it upon itself to issue the go-ahead. SugarHouse officials said after the ruling that they expected to start construction in weeks. The 6-1 decision also is likely to hasten the groundbreaking for the Foxwoods casino in Pennsport.
October 20, 2009 |
The tight state-imposed deadline for opening Foxwoods Casino by May 29, 2011, has made raising money "more problematic" and prompted the project's partners to consider putting up a temporary structure before building a permanent gaming hall, an attorney for Foxwoods said yesterday. In a letter to the Pennsylvania Gaming Control Board on Friday, Foxwoods had disclosed the possibility of a temporary casino along the Delaware River in South Philadelphia, citing "unanticipated issues.
April 6, 2010 |
Casino mogul Steve Wynn on Monday declared that his plans for a South Philadelphia casino would be "Wynn top to bottom," carrying both his name and signature design. After meeting for an hour and fifteen minutes with Mayor Nutter at City Hall Monday night, Wynn said in an interview with The Inquirer: "We only have one brand. We don't have a down-market brand. It's our place. " When Wynn Resorts surfaced in February as a new developer to take over the faltering Foxwoods Casino project, there was speculation that he might not bring his style of high-end casinos to Philadelphia.
January 28, 2010 |
State gaming regulators yesterday unequivocally warned the Foxwoods Casino investors that they would strip the project of its license unless the developers quickly submitted specifics about a proposed South Philadelphia casino. At a hearing here, the seven-member Gaming Control Board unanimously voted to punish Foxwoods with a $116,000 fine and set a hearing for March 3 to consider further sanctions, including revoking the project's license. The action came in response to Foxwoods' failure to meet a Dec. 1 deadline to submit drawings of the proposed casino to the board.