Last Wednesday the Pennsylvania Gaming Control Board held a meeting with gaming operators from the state. During the meeting, the gaming control board granted a two-year extension for the developers of the delayed South Philadelphia casino project to complete the project. That said, the casino is expected to launch the casino project by December 2020.
The two-year extension arrives shortly after it was announced that the Maryland-based The Cordish Companies will be taking full control of the hotel and casino complex that will be located just outside the South Philadelphia Sports Complex – this change of ownership was also approved by the gaming control board on Wednesday. Initially, the casino complex which will be referred to as Live! Hotel & Casino Philadelphia was originally estimated to co450 million but once the development officially kicked off, the budget increased to $600 million and subsequently to $700 million.
Stadium Casino LLC, the developer of the project, confirmed that they had already acquired a demolition permit in April after acquiring the property earlier this year and the demolition of the former Holiday Inn at 900 Packer Avenue is set to take place in December. Now, the only thing that remains is the building permit that once received will pave way for construction to begin in early 2019.
The Stadium Casino complex is set to be the most expensive project in the city partly because there are lots of positive prospects. The project is also going to be monumental to the economy of the city hence its officials are backing the project fully.
“This is a very important project to the city,” Weinberg, the Managing Director of Stadium Casino commented. “If anything, they’re pushing us as much as we’re pushing ourselves.”
Three More Pa. Casinos Move Closer to Launching Their Sportsbooks
During the same meeting, the PGCB also awarded some conditional licenses to one of the key sports betting suppliers and company that will be managing the sports betting operations at two of the Keystone State land-based gaming facilities. Kambi, the renowned sports betting solutions provider was awarded a conditional license for sports betting through its Sports Wagering Information Services subsidiary while Rush Street Interactive received a license to offer its services in two of the state’s gambling facilities.
Kambi’s Sports Wagering Information Services Limited will be working alongside and Rush Street Interactive will be manning the sportsbooks at Rivers and SugarHouse Casinos. Moreover, Kambi is expected to play a much bigger role in the state as it was also recently named Rush Street’s sports betting technology partner.
All three casinos are about ready to go live with their sports betting offerings but, as it turns out there needs to be a two-day testing period overseen by the state gaming regulator before everything finally takes off. The two-day testing period will allow the PGCB to verify the readiness of the location, the staff, and systems that will be facilitating the operation of the sportsbooks.