Parx Casino operator and The Cordish Co. team up for Philly casino proposal
Another competitor for Philadelphia’s second casino license has emerged as Greenwood Gaming and Entertainment Inc., the operator of Bensalem’s Parx Casino, and The Cordish Co. announced plans for a joint venture near the South Philadelphia sports complex.
The two companies, which formed a partnership called Stadium Casino LLC, want to build a 200,000 square foot casino at the site of the Holiday Inn on Packer Avenue, featuring 2,000 slot machines and 125 table games. The facility would also include six restaurants, fitness and spa facilities, a live music venue, rooftop party deck and a 2,500-space parking garage.
The group said the estimated cost of the casino would be between $425 million and $500 million and would not require financing. The 10-story hotel would remain, but be redesigned as an upscale boutique hotel under a different brand.
Since opening in 2006, Parx has been the state’s most successful casino. Cordish’s Maryland Live! casino opened in June, and the company owns several Live! complexes across the country, including Xfinity Live! at the sports complex on Pattison Avenue.
The project was announced one week after developer Bart Blatstein unveiled plans for a $700 million casino and resort complex called The Provence on North Broad Street. Blatstein’s project would be located at the site of the former Inquirer building and be operated by Hard Rock International.
The two projects are among at least a handful expected to be submitted to the state Gaming Control Board for the city’s second casino license by the Nov. 15 deadline.