Like a gambler who refuses to leave the table, Foxwoods investors announced an agreement yesterday with Harrah’s Entertainment to try to save its stalled South Philadelphia casino.
The nonbinding agreement comes as the state Gaming Control Board meets today to decide whether to revoke Foxwoods’ gaming license for failure to open in a timely manner and for missing several deadlines. The board could also not take any action.
“The announcement today [from Foxwoods] has no ramification on that,” PGCB spokesman Doug Harbach said in an e-mail.
The agreement between Harrah’s and Foxwoods still needs gaming board approval and financing, which has proved tough for the local investors that includes Comcast-Spectacor chairman Ed Snider and developer Ron Rubin.
“This ... enables our investor group to move forward with our project with a view towards opening our doors to the public for gaming within approximately 20 months,” attorney and partner Stephen Cozen said in a release.
Anti-casino folks hope the project dies today.
“I hope they restore a sliver of confidence in the political process and do the right thing,” said Dan Hajdo.