A second casino in Philadelphia is another step closer to
construction.
The Pennsylvania Gaming Control Board has given the Live!
Casino and Hotel Philadelphia project planned for Ninth and Packer a second
green light.
The decision over who owns how much of the casino came as
the result of a court challenge by businessman Bob Manoukian who lost his fight for a second
gaming license. He already a majority stake in Parx Casino in Bensalem, Bucks
County.
"State law under the Gaming Act prohibits second
ownership in a casino above 33 percent," said Doug Harbach of the Pennsylvania Gaming Conrol
Board.
"Mr. Manoukian had with his lawyer proven to the
board that his ownership [of the second casino] wouldn't exceed 28.3 percent,
so the board rendered a decision that that was a legal ownership and the
project should go ahead."
Harbach says the decision doesn't put an end to possible
challenges concerning the second casino.
Source: Philadelphia
Business Journal
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