Philadelphia Close to Getting a New Foxwoods Casino

 

A casino near Philly? Could happen.

The Philadelphia Inquirer reports that in aletter to the Pennsylvania Gaming Control Board, Foxwoods had disclosed the possibility of a temporary casino along the Delaware River in South Philadelphia, citing “unanticipated issues.” It did not elaborate.

Potential lenders have been concerned about the time constraints on the project, which adds another element of risk to the deal.

“No one wants to take the chance of going up against the time limit without options,” Cozen told the Inquirer. “They may feel it’s safer to go with a temporary building than an interim one.”

A temporary casino could be erected quickly, then torn down and replaced.

A racetrack in Western Pennsylvania, the Meadows, opened a slots parlor in a structure made of metal framing and a material sheath before moving into a permanent structure this year.

Understand, folks, what’s going on in Pennsylvania. With the budget shortfall, Governor Ed Rendell is pulling out all the stops to raise capital.

That includes more gambling venues.

Foxwoods’  interim facility would serve as the first phase of permanent construction. The developers of SugarHouse Casino broke ground this month for just such a hall on Delaware Avenue in Fishtown-Northern Liberties.

Cozen said the Foxwoods investors – 13 mostly local entrepreneurs and sports figures, plus the Mashantucket Pequot tribe of Connecticut – have until the end of November to decide which way to go. However, “the decision, I think, will be made long prior to that,” he said.

If they pursue a temporary facility, Cozen said, he expected a quick handling of the matter by the Pennsylvania Gaming Control Board.

“They’d be more than happy to get us up and running as quickly as possible, if that’s what we need to do,” he said.

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