One of Wynn Resorts’ former rivals for a Philadelphia casino
said the operator was right to pull out.
Joseph Canfora, president of PHL Local Gaming LLC and the
Casino Revolution proposal, said Wynn’s idea for a $900 million casino and
grand hotel on the Delaware River was out of scale.
“I think Steve Wynn made the right decision. He’s a great
competitor, but it was such a big project. The idea that you would take the
train, fly in, take the subway — I think he made the right decision,
personally,” said Canfora.
Another executive at PHL Local Gaming, Vice President of
Community Affairs John O’Riordan, added: “Big, bloated, very expensive projects
are not going to fly in this market.”
PHL Local Gaming is one of five remaining casino proposals
vying for one license. State regulators are not expected to make a decision
until at least early spring.
The officials made their comments as part of a press
conference unveiling the LoSo (Lower South) Entertainment Center, a $278
million non-gaming venue that would complement the $428 million Casino
Revolution.
It would include food-and-beverage options, retail, live
entertainment, music, soccer fields, racquet sports, an indoor swimming pool, a
zip-line park, rock-climbing facilities, a golf driving range, a dry
ski/skateboarding park and a water park — options that bring in revenue while
providing non-gambling options. They deemed it a “regional attraction.”
Kids are excluded from gaming floors, but they're a key
market for the entertainment district.
Unlike some of Pennsylvania’s original casinos, newer places
are making non-gaming amenities a way to get people to stay longer while
including families.
Possible restaurants at the LoSo complex could include Todd
English P.U.B., Bobby’s Burger Palace, Black Horse Tavern, Coyote Ugly Saloon,
Bassett’s Original Memphis Pit BBQ, Rice & Company Sushi Bar, Lucky Strike
Bowling Lanes, Texas De Brazil Brazilian Steakhouse, and Fame Night Market and
Ultra Lounge.
“We want four soccer moms from Ardmore to be able to come
down, spend $15 to $20 on lunch and have some money left for the slots,” said a
LoSo consultant, Nicholas M. Lillo, a former restaurant specialist for the mall
owner Simon Property Group.
PHL Local Gaming was stung by the city report, put forth by
city Commerce Director Alan Greenberger back in September, that touted two
downtown casino proposals: Ken Goldenberg’s Market8 proposal and Bart
Blatstein’s The Provence.
Casino Revolution and the LoSo complex would be situated on
25 acres owned by Procacci Brothers Produce, in what is now a warehouse
district with close proximity to I-76 and I-95.
The group said by using an existing building for the casino
itself, the project could open some six months before any other proposal, in
turn generating an additional $40 million in state and local taxes, it said.
With Wynn out of the running, it is now the only casino that
would have the space to expand to 5,000 slots, up from the 2,400 it hopes to
open with.
Source: Philadelphia
Business Journal
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