July 13, 2012 |
In a decision that surprised some lawmakers and gaming industry insiders, the Pennsylvania Gaming Control Board announced Wednesday that it would keep a second casino license that was designated for Philadelphia in the city. The General Assembly had considered taking away the license and putting it out to a statewide bid. But while the legislation sailed through the House in May, it didn't have enough support in the Senate, where it stalled - prompting Board Chairman William H. Ryan Jr. to move forward Wednesday with the license-application process in Philadelphia.
June 13, 2009 |
The new head of the Pennsylvania Gaming Control Board has a message for Foxwoods Casino: We're not going to wait forever for a casino plan. During a Philadelphia visit yesterday, Gregory C. Fajt, former chief of staff to Gov. Rendell, said Foxwoods had indicated that it could be "a couple of months" before it finalizes a location. The investor group, which has asked regulators for a license extension, could decide to switch its site to the old Strawbridge & Clothier building in Center City or stay put on the Delaware River waterfront in South Philadelphia.
October 10, 2007 |
Gov. Rendell yesterday declared the search for alternate casino sites in the city "over," urging neighbors to join in discussions about what happens when - not if - the slots parlors are built. In a letter to Gaetano Piccirilli, an activist in Bella Vista, Rendell wrote that he had no power to force Foxwoods Casino to move from its chosen site in Pennsport, or SugarHouse from its location in Fishtown and Northern Liberties. Neighbors say the sites are too close to homes and will create unsolvable traffic problems, and Rendell had promised them that he would ask the casinos about moving.
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.
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.
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.
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.
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.