September 13, 2011 |
The proposed Valley Forge Casino Resort in Montgomery County was deemed enough of a competitive threat that the owner of local gambling power Parx challenged its specialized state license in court - a process that stalled construction for two years. That's all ancient history, say Valley Forge's backers, who announced Monday that construction was now proceeding nicely and that the new venue - the region's fourth casino - would debut in the spring. That's when patrons will be able to gamble there as long as they stay the night or spend at least $10 at the Valley Forge Convention Center's other amenities, including its restaurants and retail shops.
January 23, 2011 |
If SugarHouse's revenues during its first four months are a barometer for demand, then Philadelphia's waterfront can't support a second casino, gambling analysts say. The city's first and only casino debuted Sept. 23, nearly four years after it was awarded a slots license by the Pennsylvania Gaming Control Board. It became the state's 10th casino. Weekly slots revenue, which makes up nearly 70 percent of the casino's total revenue, has averaged $2.3 million - less than half of what was projected in May, and less than half the projections that SugarHouse's owner made to state regulators when seeking the license.
November 14, 2007
Eight of the country's top harness drivers will compete in a drivers' challenge Sunday at Harrah's Chester Casino and Racetrack. The eight-race series has total prize money of $60,000, with a winner's share of $15,000. Each driver will contribute his 5 percent commission to charity. The drivers participating are George Brennan, Yannick Gingras, Cat Manzi, David Miller, Tony Morgan, Ron Pierce, Brian Sears and Tim Tetrick. Daniel Dube is the alternate. Each driver will be assigned a horse in each race through a drawing, but each driver will have first choice in one race.
July 2, 2010
Harrah's Chester Casino and Racetrack announced today that Ron Baumann has been named senior vice president and general manager of the casino. He replaces Vince Donlevie, who retired as of Wednesday. Baumann has worked for Harrah's Entertainment since 2000, and most recently, held the position of assistant general manager with Harrah's Resort in Atlantic City. Before joining the world's biggest gambling company, Baumann was executive director of food and beverage for Foxwoods Hotel and Casino in Ledyard, Conn.
July 18, 2010 |
As one of the first to sample 57 new table games at Parx Casino, Donald Kelley said getting up at 5 a.m. on a Sunday was well worth it. "I just love craps and I wanted to be the first at the table," said Kelley, 46 of Maple Shade, who ariived just before 6 a.m. Sunday at Parx. Craps, poker, blackjacks and roulette are officially part of the gambling mix at Parx in Bensalem, Harrah's Chester Casino and Racetrack in Delaware County, and at the Sands Casino Resort in Bethlehem.
May 3, 2012 |
April slots revenue at Pennsylvania's 11 casinos rose 1.3 percent to $214.1 million from a year ago, thanks largely to the opening of Valley Forge Casino Resort on March 31. Excluding the new casino in King of Prussia, slot revenue would have been down 0.6 percent year-over-year, but last month also had one less Friday and one less Saturday than April 2011. SugarHouse, on Penn's Landing, had the highest growth percentage, up 7.5 percent last month from last year, while Harrah's Chester — which is being renamed Harrah's Philadelphia — posted the largest decrease at 7.6 percent, according to the Pennsylvania Gaming Control Board, which released the figures Wednesday.
August 20, 2010 |
A trio of rich Grand Circuit stakes for 3-year-olds top a 14-race card as Harrah's Chester Casino&Racetrack presents its annual Super Stakes Sunday this weekend with $2.4 million in combined purses. The main events are the $500,000 Colonial Trot, the $500,000 Battle of the Brandywine Pace and the $350,000 Valley Forge Pace. First post is 2 p.m.
May 7, 2012 |
The Valley Forge Casino Resort is neither in Valley Forge Park nor, at a glance, a resort. It is, however, impressively busy on a Thursday at 3 p.m. Especially the $15 blackjack tables. I know this because, unlike politicians who tout gaming spoils as a public panacea, I actually hang around casinos observing the side effects of this so-called miracle drug. I would never expect elected officials to wager, since so many of them say (publicly or privately) that slots are for suckers.
May 9, 2012 |
WHAT'S IN a name? Plenty, if you're a casino looking to expand your business. On Friday, what has been Harrah's Chester Casino and Racetrack since its 2006 opening will officially be rebranded Harrah's Philadelphia. (Its website already was calling it that on Tuesday.) "The [new name] is to complement the changes and evolution we're bringing to the property," said Ron Baumann, the gambling den's senior vice president and general manager, in reference to in-the-works upgrades of amenities including dining and entertainment.
May 18, 2012 |
Let JPMorgan Chase and the other big Wall Street banks risk precious billions on high-stakes trading desks. "Banks aren't lending. We make loans," says Michael Forman, Philadelphia lawyer-turned-boss of Franklin Square Capital Partners. Of course some banks are lending — to college students, credit card users, even corporations. But Forman's point is clear: With banks hobbled by record low loan rates for blue-chip borrowers, and more careful regulation, independent firms like his are raising piles of investor cash and crowding into the business loan markets, seeking midsize debtors with steady cash flow but blemished credit ratings, who can be counted on to pay attractive rates, as long as they stay in business.