Big win for a 2nd Philly casino: SugarHouse drops its objections

It’s a go. After a three-year legal wrangle, SugarHouse Casino has dropped its effort to block a second Philadelphia gaming license, paving the way for Stadium Casino LLC to build its Live! hotel and casino in South Philadelphia.

Dispute among Philly's building trades unions

Inside, patrons play the slots. Outside, unions are in disagreement over who should build signs at the Parx Casino expansion in Bucks County.

Building Trades Council leader John Dougherty has scheduled a meeting Friday morning with union leaders a week after Gary J. Masino resigned as the president of a key BTC subcommittee, the Mechanical Trades District Council of Delaware Valley. Masino is president and business manager of Local 19 of the Sheet Metal Workers International Union. In his resignation letter, Masino says he is resigning over a conflict of interest, accusing another union in the Mechanical Trades of raiding his members’ work.

According to sources, the dispute is between the sheet metal workers union and the electricians’ union, the International Brotherhood of Electrical Workers Local 98, over who should do work on electronic signs constructed at projects on Market Street and at the Parx Casino in Bucks County.

NYC firm ups offer to buy shuttered Revel to $225M

Differing accounts from a prospective buyer of the shuttered Revel casino and its current owner continue to confuse as a New York-based private investment firm has reportedly sweetened its offer by another $5 million.

Keating & Associates LLC are prepared to spend $225 million on the massive boardwalk casino that cost more than $2 billion to build, according to the Press of Atlantic City. The upped offer comes about two months after it was reported the group offered $220 million to Glenn Straub, who acquired the Revel for $82 million after it fell into bankruptcy and rebranded it as TEN.

South Phila. casino plan advances, but developers not ready to break ground yet

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.

Go to Newsworks.org for how SugarHouse Casino's interest in the license.

Source: Philadelphia Business Journal

Pennsylvania gaming board gives the OK - again - to a proposed South Philadelphia casino

The Pennsylvania Gaming Control Board gave the green light again Wednesday for Stadium Casino L.L.C.’s proposed casino and hotel in South Philadelphia.

The board voted 7-0 that wealthy businessman Watche “Bob” Manoukian does not, and will not, hold a financial interest in Stadium that exceeds 33.3 percent, and that Stadium is in full compliance with the state Gaming Act.

The board agreed with Stadium’s argument based on evidence and testimony on July 31 from Manoukian, who said that he will transfer $34 million to a trust for his sons that will own a portion of the proposed casino. Manoukian said he will fund the trust by “irrevocable and outright gifts” and that he has no monetary right or claim, or investment in, the trust.

Builder sues SugarHouse for $14M

SugarHouse Casino cut the ribbon in May 2016 on an expansion that more than doubled the size of the only state-licensed gambling complex in Philadelphia.

More than a year later, many of its builders are still trying to get paid for the work they said they did.

The Delaware Avenue center, by Penn Treaty Park between the river and I-95, added a string of restaurants, a seven-story parking garage, an Event Center for concerts, weddings and corporate gatherings, the Poker Night in America room, scores of new poker and table game seats, hundreds of new slot machines, and 500 full-time positions, taking the total workforce to 1,700, in a city hungry for job growth..

Buyer makes $220 million offer for closed Revel

The owner of the former Revel is denying he received an offer on the shuttered boardwalk casino, but a representative of the buyer says a $220 million offer was made within the last 10 days.

A leader with New York-based marketing and management firm Digital Launch told the Press of Atlantic City it is representing a private equity firm, also based in New York, which is ready to pay Glenn Straub $220 million for the Revel property.

Straub, who has renamed the casino TEN, paid $82 million for the resort after it fell into bankruptcy. It cost more than $2 billion to build.

Digital Launch declined to disclose the potential buyer's name to the Press of A.C., which said Straub denied receiving any offers – though that doesn't necessarily mean he is unwilling to entertain them.

Parx Casino announces $50 million expansion

BENSALEM, PA  – Parx Casino, has announced today a $50 million expansion plan designed to add exciting new amenities and entertainment to the region. This expansion will create over 200 new full time jobs in the Bucks County and Philadelphia regions, making Parx Casino® one of the largest employers in Bucks County with over 2,500 employees.

Slated to open in winter 2017/2018, the new expansion will add 45,000 square feet of space totaling the property footprint to 375,000 square feet. It will feature two new restaurants, an exclusive poker room and the crown jewel of the project, a multipurpose state-of-the-art live entertainment venue, appropriately named Xcite Center.

The all new Xcite Center will bring some of the hottest acts in show business to the region. The venue will be highlighted by the latest cutting edge technology, including advanced modern lighting, two 16-feet by 9-feet video screens, the highest level professional grade sound system available and advanced engineered acoustics. The custom designed seating for over 1,500 guests will allow the venue to be reconfigured for thrilling live entertainment performances and countless special events.

Along with the Xcite Center, Parx Casino® will launch two new dining concepts as part of this expansion. Lombardi’s, America’s first pizzeria from the streets of Little Italy, has chosen Parx Casino® as its second location. The Manhattan-based legendary eatery will offer their delicious award-winning New York style pizza and classic Italian dishes, including Chicken Parmesan and Spaghettoni with homemade meatballs. The main dining room of this beautiful European style restaurant will have seating for 130 patrons and guests will also have the option to dine at the custom built marble bar adjacent to the main dining room. The Lombardi’s bar menu will be accentuated by a robust wine collection, with premium wines imported from Italy and Europe, all available by the glass.

The Liberty Bell Gastropub will be the second restaurant to open in Parx Casino® as part of this property extension. It will have a fresh farm-to-fork approach with locally sourced menu items incorporating grass-fed Pennsylvania beef, Pennsylvania premium reserve pork, free range chicken, locally grown produce, Pennsylvania cave aged cheeses and more. This eatery will also feature a unique custom Rotisserie bar, boasting two Rotisol Rotisseries – the world’s leading, most efficient and beautiful Rotisserie innovator – perfectly slow-roasting an array of meats around a bar area with ample seating. Guests of the Liberty Bell Gastropub are sure to enjoy the unique menu, especially the lavish gourmet prime burger, as well as the intimate live performance space where they can be entertained during their dining experience.

The interior design of the Gastropub will showcase natural materials such as stone, reclaimed wood and copper to deliver a warm and inviting ambience. With seating for 230 guests in total, the restaurant will feature an elaborate 30 seat bar and a large media wall with 14 high definition TVs behind the bar. The beverage offerings will include a vast list of wines from the Americas, classic cocktails with a modern twist and an extensive 28 craft beer selection available on tap.

“As one of the nation’s top casinos, we pride ourselves on offering our guests the best in gaming, dining and entertainment,” says Paul Greco, General Manager of Parx Casino®. “This expansion will bring the best new amenities to our guests – the Xcite Center, two new restaurants, and the new Parx Poker Room. We are honored that the legendary Lombardi’s is coming to Parx Casino® and making us their second home.”

Parx Poker® – which rivals the best poker rooms in the country – will move into its new home inside the main casino building during this development venture. The new poker room will have beautifully appointed high-end finishes, 22 high definition TVs and will offer a premier VIP poker enclave. Poker will join the 133 other live table games, providing the best overall live table game action under one roof.

Source: The Intelligencer

New A.C. master plan means new zoning for South Inlet

A huge portion of vacant land surrounding the former Revel casino in Atlantic City can now be filled with mixed-use residential properties following the Casino Reinvestment Development Authority's approval of a new master plan for the battered Shore resort town.

The change is meant to spur development in Atlantic City, which has seen an uptick in investment in recent months.

The land had previously been designated strictly casino commercial, and the CRDA's approval relaxes zoning to allow for mixed-use residential projects in the city's Tourism District in the South Inlet, Lance Landgraf, of the CRDA, told Philly.com.

A.C. polercoaster gets $38.4M, to open in 2019

Atlantic City's long-talked about and first and only polercoaster is getting closer to being realized.

Wallack Holdings in August 2015 signed the lease for a one-acre pad of land on the 18-acre site of the former Sands Atlantic City casino-hotel with the goal of 350-foot polercoaster and drop tower hybrid attraction in the Shore town.

New owners of vacant Taj Mahal to spend $375M on transformation to Hard Rock Hotel & Casino

The owners of the future Hard Rock Hotel & Casino Atlantic City are planning to put nearly $400 million into the empty Boardwalk property — an investment they say will transform the financially battered Shore resort from a "one-and-a-half night town" to an entertainment destination.

Telling a crowd that counted Gov. Chris Christie, N.J. Senate President Steve Sweeney and Atlantic City Mayor Don Guardian as members, Hard Rock International CEO Jim Allen said the purchase of the vacant Taj Mahal casino from previous owner Carl Icahn has closed and financing is in place to begin a $375 million overhaul of the property.

Betting on A.C.'s rebirth, Blatstein spends $6M on more A.C. properties

Philadelphia developer Bart Blatstein continues to put money behind his view that Atlantic City is poised for an upswing, reportedly spending $6 million on several properties adjacent to his Showboat hotel.

The purchase includes roughly three acres that sit between the Showboat, which he bought for $23 million last year, and the Glenn Straub-owned and shuttered TEN, formerly called Revel, according to the Press of Atlantic City.

Whatever happened with that South Philly casino?

Construction hasn’t started, as the project is snarled in the court system.

It’s been more than three years since the state accepted applications to build a second casino in Philadelphia, and more than a year since the winner of that application faced concerns about racist business practices.

At this point, construction still hasn’t started on the nine-acre plot of land in South Philadelphia that’s set to become the state’s newest casino: the Live! Philadelphia hotel and casino project. That’s because developers, owners and other stakeholders are waiting on the court system to make up its mind — and precedent shows that’ll likely go in their favor.

Valley Forge Casino Resort to undergo $6M renovation

The Valley Forge Casino Resort, to attract a wider audience amid growing competition, will give one of its towers a $6 million facelift — the first time it's received an overhaul in more than a decade — that will add two new "super" guest rooms.

The King of Prussia-based property over the past year has been making significant investments — particularly in non-gaming amenities — including the upgrade of its event center; last year's debut of its $600,000 investment called Valley Beach Poolside Club and a Shore-inspired food truck; and the revival of the Valley Forge Music Fair.

Bankruptcy judge ruling a 'blow' to Revel owner

In what is yet another chapter in the ongoing saga of the former Revel casino in Atlantic City, a bankruptcy judge this week made a ruling that could be a "blow" for owner and Florida developer Glenn Straub but a boon for one of its tenants.

Straub and his legal entity Polo North Country Club Inc. have been in an ongoing legal battle with IDEA Boardwalk Inc., the club operator tenant at the former Revel, which is now known as Ten after a rebranding in September this year.

Harrah's spending $30M on Atlantic City hotel renovations

ATLANTIC CITY, N.J. (AP) - One of Atlantic City's top casinos is getting a $30 million makeover.

Harrah's is redoing 450 rooms and suites in the casino's Bayview Tower. The work will begin in mid-November and should be finished by Memorial Day weekend in 2017.

Sands Casino in Bethlehem poised for major expansion

Sands Casino in Bethlehem already has one of the nation's most lucrative table games rooms, but it appears ready to bet about $40 million that it can be even more successful.

Sands is planning an expansion the size of two football fields that would include a separate poker room and restaurants and give it the biggest casino floor in the state, opening valuable space for more table games such as blackjack, roulette and craps, according to plans filed with Bethlehem's Department of Community and Economic Development.

Sands CEO Mark Juliano would not confirm the project Wednesday, saying, "We're not prepared to comment on any plans."

Plans filed with the city show a multi-level, nearly 100,000-square-foot expansion on the north side of the casino, adding more than 35,570 square feet of gambling space.

The plans don't mention the amount of an investment. But Bethlehem's 2015 audit, which was released this week, lists a "Sands table games expansion" at $40 million and notes the project's status in August as "plans submitted."

Word of the expansion has been circulating through the Sands poker room for months, as some players have been eager to leave what resembles a fenced corral in the center of the casino floor.

"It's not even a room. When you're trying to win a $2,000 or $3,000 pot, you don't want to hear slot machines going off or some guy screaming about his roulette number coming up," said Scott Correll of Bethlehem, a former professional poker player who still plays several times a month. "I'd much rather play in a dedicated room without all the distractions."

Sands stands to rake in more revenue if it can add table games other than poker, which isn't a big money maker for casinos. Its poker room, however, is on prime real estate in the middle of the casino floor, surrounded by slot machines, other table games and a food court.

Building a new poker room would open the floor for more lucrative games to be more prominently displayed. While casinos tend to keep roughly 14 percent of all wagers on most table games, they keep only a small portion of each poker pot — sometimes as little as $5 — because poker involves the players taking each other's money, with the casino getting little.

The expansion would need approval from the state Gaming Control Board, and it also would need special approval if the number of table games were to exceed the state's maximum of 250. With 237 tables already on the floor, Sands would have to petition to add more than 13. No other casino has more than 184.

"Normally the executive director can sign off on a small expansion or the addition of maybe 10 tables," said Richard McGarvey, gaming control board spokesman. "But any expansion of this level would need full board approval. No one has ever asked to go above the maximum before."

He noted that no casino expansion request has been denied.

An expansion certainly would be welcomed by city leaders, who use more than $9 million in Sands fees to balance the city budget and are eager to see the casino add amenities that would attract more people to a city that relies heavily on tourists.

Sands' $800 million complex, which includes a shopping mall, restaurants, a 302-room hotel and a concert venue, employs nearly 3,000 people and draws an estimated 8 million visitors a year.

Bethlehem Mayor Robert Donchez said he is aware of the plan and that the city will work with the Sands.

He said he hopes it will spur development of the No. 2 Machine Shop and the Steel General Office building, which like Sands are on the former Bethlehem Steel site and are owned by Sands and other investors.

"I think it's extremely important to make it more of a destination center," he said of the site.

Plans call for knocking out the north wall of the casino — now lined by slot machines — to build a two-story expansion. Spilling into what is now a parking lot, the expansion would include restaurants with 215 seats and the additional gambling space, which would give the casino more than 180,000 square feet of casino floor. The addition would be 97,301 square feet.

The plan builds on what is already the state's busiest table games room. Sands' tables raked in $228 million last year, easily outpacing the $155 million brought in by second-place Parx in Bucks County, which has the most table games space. While most other poker rooms at the state's 12 casinos shut down for a few hours a day, Sands' room has had at least a few players anteing up 24 hours a day since it opened in 2010.

News of the plans, and the jobs they could create, made Roger Hudak, chairman of the mayor's South Side Task Force, smile.

"It will be a good thing, if it happens," said Hudak, who championed the Sands when it was competing for a slots license nearly a decade ago.

He cautioned that the expansion or the timing of it could be affected by whether the state Legislature extends slot machine opportunities to airports or online gambling. Pennsylvania legislators are expected to make those decisions in the next two weeks. Sands opposes such plans.

Hudak also said the uncertainty of a New Jersey referendum that would extend gambling outside of Atlantic City could affect Sands' plans.

Sands has built its table games dominance on the strength of more than 50 busloads a day of players who travel in from New York City and northern New Jersey. Sands officials have said roughly 50 percent of its table games players come from out of state.

Analysts say that reliance on out-of-state gamblers has injected some uncertainty into how much Sands is willing to invest to expand. A referendum on the November ballot in New Jersey asks voters if they favor allowing two casinos to be built in northern New Jersey, amending a state law that only allows casinos in Atlantic City.

Those two casinos could intercept many of Sands' table games players. Though Sands officials have declined to discuss it, analysts say the referendum likely has delayed Sands from releasing a master plan calling for another hotel, more retail shops, a convention center and a second entertainment venue.

The most recent poll, by Fairleigh Dickinson University's PublicMind, shows that 57 percent of New Jersey voters are against allowing the northern casinos, while 37 percent support it.

Juliano in recent months has said Sands will continue to invest in the complex, regardless of the results of the vote.

Source: Philly.com