Philadelphia Casino License- South Philadelphia gets 3 Proposals for Packer Avenue

Philadelphia Real EstatePhiladelphia Casino License

Philadelphia Casino License, Philadelphia Casino License,. There were a total of 6 plans submitted for second Philadelphia casino license.  Bids were received by Vegas casino bigwig Steve Wynn who hopes to set up shop at James Anderson site on the Delaware River in Fishtown. Also, local Philadelphia real estate developer Bart Blatstein plans to take his $700 million plan to the former Inquire building at 400 N Broad Street.

Penn National Gaming Inc. submitted their Philadelphia Casino License proposal including that they would only take a 1/3 share in the Philadelphia casino license and would consider the City of Philadelphia to hold the other 2/3 share.- (Looks like this is one way to get the City on your side). The location of this plan would be at 700 Packer Avenue in South Philadelphia. The Turf Club is currently operating at the location, I would imaging that they would continue to keep the horse gambling as well.

Philadelphia Real EstateThree Proposals for South Philadelphia

The Pennsylvania Gaming Control Board will allow a casino 500 slot machines and 250 table games in Philadelphia for a steep cost of $50 Million. There were 12 Casino Licenses issued to the State of Pennsylvania and 11 of them are currently active which makes this the last casino license in the State of Pennsylvania. The second South Philly proposed site is a city owned lot at 3rd and Packer.

Philadelphia Real EstateHoliday Inn Casino Proposal

And last Philadelphia Casino License bid would be Stadium LLC. – owned by Greenwood Gaming and Entertainment Inc. They are proposing a half billion dollar Hotel Casino at 900 Packer Avenue at the property which is currently the Stadium Holiday Inn. All 3 of the South Philly proposed sites are within a walking proximity to all major sports stadiums and Xfinity Live. Now that the deadline has passed, we just have to wait patiently to find out who will get the last Philadelphia Casino License.

Philadelphia Casino License By: Michael Angelina

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Blog post compliments of Michael Angelina’s Philadelphia Real Estate Blog

Michael Angelina

Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106

215.627.6005 Office
215.521.1612 Direct
215.783.7556 Cellular
215.627-3142 Fax

Email: michael@michaelangelina.com

Website: michaelangelina.com

Philadelphia Real Estate

 

 

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Michael Angelina

Philadelphia Realtors & Real Estate Agents

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