PHILADELPHIA (CBS) — A second casino is in the cards for Philadelphia, with construction set to begin next year in the stadium area.
The development comes as the city’s first casino ended its years-long court battle to be the only game in town.
Live! Hotel and Casino is expected to open in the South Philadelphia sports complex in 2020, a $600 million project joining a crowded mid-Atlantic gambling market.
“It has the potential to do very well there, provided that people can get in and out of there at their convenience and that there is plenty of parking.”
Especially on nights when games or concerts are scheduled, says gambling expert Joe Weinert with Spectrum Gaming Group.
Lawyers for SugarHouse say their hand was forced by the gambling expansion signed into law by Governor Wolf: it made moot their challenge of the gaming license awarded to Stadium Casino three years ago.
A couple thousand slot machines and 125 table games are planned by developer Cordish Companies, along with 200 hotel rooms and a 2600-space parking garage.
Stadium Casino has to put up $50 million by the 15th: that’s the fee the state Gaming Control Board is charging for a slots license.