Stadium Casino Live!

Pennsylvania green lights South Philadelphia casino

The current law in the state prevents an individual who owns one casino from owning more than 33.3 percent of another.

United States 
| 11/08/2017

The Gaming Control Board decided that the sponsor of the project -Bob Manoukian- does not hold a financial interest in Stadium that exceeds 33.3% and the gaming facility is in full compliance with the state Gaming Act.

In June, the Pennsylvania Supreme Court sent the South Philadelphia casino case back to the gaming board for a further evidentiary hearing. Based on a special hearing and legal briefs, the board concluded Wednesday that Manoukian, who owns an 85.84% interest in Parx Casino in Bensalem, did not violate casino ownership restrictions in the proposed Live! Philadelphia Casino & Hotel in South Philadelphia.

According to the legal motion: “Bob (Watche) Manoukian does not maintain a financial interest in Stadium Casino L.L.C. through either the Sterling Investors Trust or Sterling Fiduciary Services Inc.”

 

Yogonet.com/philly.com

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