Pennsylvania Gambling Regulators Approve Philly Casino Project For A Second Time$450 Million Project Receives Another OK From State |
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The seven-member Pennsylvania Gaming Control Board on Wednesday unanimously approved a project for a second casino within the city limits of Philadelphia, the second time it has done so since 2014.
Live! Hotel & Casino in South Philadelphia has been delayed for several years thanks to allegations that Watche “Bob” Manoukian, who owns roughly 85 percent of nearby Parx Casino, would be owning more than a third of Live!, a joint venture between his company Greenwood Racing and the Cordish family in Baltimore. The Cordish Companies own the five-year-old Maryland Live! Casino.
Pennsylvania law says that more than one-third ownership for Manoukian would be illegal.
In June, the Pennsylvania Supreme Court told regulators to again examine the ownership structure of the project. According to Philly.com, the results of the investigation could be appealed to the state’s Supreme Court once again. The outcome of that process could lead to the casino’s license being finalized and the last green light for the project.
The Court previously told regulators to conduct another review in March.
If it is built, Live! would be Pennsylvania’s 13th brick-and-mortar casino and the fifth in relative close proximity to Philadelphia. The $450 million casino is expected to generate about $300 million annually in gaming revenue thanks to 2,000 slot machines and more than 100 table games.
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