All applications must be filed by 5 p.m. Thursday

6 groups may bid for Philadelphia casino license

2012-11-14
Reading time 1:37 min
(US).- Competition for the city's second casino license is picking up in advance of Thursday's deadline, with six groups taking early steps to indicate their interest. All six potential suitors filed local impact reports with the city last week, to allow Philadelphia officials to begin assessing their plans separately.

The groups that have publicly stated their intention to file applications with the Pennsylvania Gaming Control Board include a major Philadelphia developer (Bart Blatstein); a partnership involving the state's highest-volume casino (Stadium Casino) and a Las Vegas-Macau gaming powerhouse (Wynn Resort). All applications must be filed by 5 p.m. Thursday.

Two developers with Center City properties are still trying to pull together deals, and an established operator, Penn National Gaming, has submitted plans to the city for a casino on Packer Avenue, one of two proposals for the stadium district.

All six potential suitors filed local impact reports with the city last week, to allow Philadelphia officials to begin assessing their plans separately. Those filings do not necessarily mean the entities will file actual applications with the state gaming board.

The Goldenberg Group, co-owner of a parcel at Eighth and Market Streets, has been actively seeking an operator and investment partners. "We can confirm that the Goldenberg Group is still exploring the possibility of a casino on the current parking lot between Eighth and Ninth Streets on Market," said Kim Hallman, a spokeswoman for the company. "But at this point, as the application deadline approaches, we're not able to offer comment on any specific detail."

Sources said Ira Lubert, the real estate investment manager who opened the Valley Forge Resort Casino this year, is aligned with Goldenberg. But under the state's gaming law, Lubert would not be allowed to own more than a third of the project because he already has a majority stake in Valley Forge.

Also in Center City, the Parkway Corp., which operates parking facilities across the city, is interested in making a pitch for a license. "We're working hard to put together all the pieces," said Robert Zuritsky, Parkway's president. He would not identify which sites, but sources said the company has focused on property near the Convention Center.

Of the publicly released proposals, one is in Center City, two in South Philadelphia near the sports stadiums, and one on the waterfront in Fishtown. Each would raise questions about the impact on surrounding communities that will have to be addressed by the state Gaming Control Board at public hearings.

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