Name: Live! Hotel
and Casino - Stadium Casino, LLC
Location:
900 Packer Ave. (the corner of Packer Avenue and Darien
Street)
Estimated cost:
$400 million
Gaming:
2,000 slot machines and 125 table games, including 92
banking games and 33 poker tables
Project Size:
200,000 square feet for the gaming facility, plus a 220-room
hotel.
Theme:
A “world-class hotel-casino that will complement the
existing stadium district venues to create a destination like none other in the
country.” Live! Hotel and Casino would be an entertainment complex with
gambling, dining, music venue and hotel.
The Details:
Live! proposes a casino, boutique hotel, six restaurants and
an “intimate” music venue. The
principals envision Live! as “one of the major gaming, resort and entertainment
destinations in the eastern United States, combining integrated casino, hotel
and entertainment facilities.”
Plans call for:
A “Las Vegas style” casino with 100,000 square-foot gaming
floor that would be open 24 hours a day, seven days a week.
Another 10,000-square-foot entertainment venue and
6,500-square-foot private event space.
Six restaurants ranging “from high-end options to a modern
diner concept, a food court and a celebrity chef concept.”
Renovation of the existing Holiday Inn hotel and conference
center into a 220-room hotel with a pool, spa, fitness facilities.
A 1,000-person music venue and rooftop party deck.
The site is accessible via SEPTA’s Broad Street Line and
several bus routes, and is also close to major interstates and the Walt Whitman
Bridge. Valet parking will be available at the casino, or drivers would use a
2,600-space, self-parking garage.
The principals expect the development to draw four million
visitors annually. The group says its plan will capitalize on the eight million
people who already visit the stadium district each year, as well as draw new
gamblers from South Jersey.
Impact:
The development would employ about 1,246 workers, plus
generate another 3,000 construction jobs.
Who’s involved:
Live! Hotel and Casino is a joint venture of Greenwood
Racing, Inc. (GRI) and Cordish Companies.
Greenwood Racing owns Parx Casino in Bensalem, the
highest-revenue-generating casino in the state. Greenwood operates the Atlantic
City Race Course and other off-track betting facilities. The company’s key
principals include CEO Anthony Ricci and Robert Greene, the chairman and
founder.
Baltimore-based Cordish operates multiple casinos and
entertainment complexes across the country, including Xfinity Live! in
Philadelphia. It operates the recently opened Maryland Live! Casino. The
company also owns urban mixed-use projects in Houston, Kansas City and Atlantic
City, among others. Its key principals include brothers Jonathan, Blake and
Reed Cordish, as well as company partners Joseph Weinberg and Charles Jacobs.
How they’ll pay for
it:
Live! Hotel and Casino says it currently has the funds.
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