Live! Casino Philadelphia gets zoning approval

The project, which was awarded last casino license by the Pennsylvania Gaming Control Board last year, is being developed by Stadium Casino, a joint venture between The Cordish Companies and Parx Casino.

Privately financed, the $450m project will include a Las Vegas-style casino floor featuring more than 2,000 slot machines and more than 125 table games; a 200-room luxury hotel, spa and conference center; valet parking and an approximately 2,600 space parking garage; local and nationally-recognised destination restaurants; and live entertainment venues.

Live! Hotel & Casino Philadelphia is located next to the Philadelphia Sports Complex, already a major tourist destination, drawing 8.5 million visitors a year. Ideally situated off Interstates 76 and 95, the property is positioned to become a true regional destination resort casino.

“We appreciate the confidence shown in our team by the City Council. We can’t wait to get started in creating thousands of jobs and career opportunities for the people of Philadelphia,” said Zed Smith, The Cordish Companies COO and Tony Ricci, Parx Casino CEO.

Stadium Casino will set a new standard in development in the City of Philadelphia in the areas of economic opportunity and inclusivity for local residents. The project will generate over $2bn in economic stimulus along with $100m in tax revenues for the city in just its first five years of operation, including $25m to Philadelphia’s School District.

More than 3,000 new construction jobs are also anticipated, which will generate approximately $145m in estimated new wages and salaries, during construction. Upon completion of the facility, 2,000 new permanent jobs will be created. The project is also committed to establishing partnerships with local educational institutions to operate training programs for potential workers at the casino.

Stadium Casino remains committed to engaging community groups and residents within the civic associations to work together to enact improvements in the neighbourhoods and has established a Community Charitable Fund amounting to a minimum of $15m in grants from the project to local communities during construction and the first 20 years of operations.

“The Stadium Casino agreement with the City is transformative and sets a new gold standard for inclusive economic development in the City,” remarked Steven Bradley, Chairman of the African American Chamber.