Pennsylvania clears casino licensing hurdle
The local gaming control board reaffirmed its position regarding the ownership of an upcoming casino in South Philadelphia.
US.- The Pennsylvania Gaming Control Board revealed on Wednesday that the applicants who were chosen to operate the second casino in Philadelphia are within state limits on ownership go more than just one casino.
Earlier this year, the Supreme Court of Pennsylvania unanimously ruled that gambling regulators had to reevaluate the ownership of the upcoming South Philadelphia casino Live! Hotel & Casino over concerns related to one of the stakeholders. Nevertheless, the person in question, London-based businessman Watche Manoukian, claimed no interests in future revenues. “I have recently signed a binding agreement to fund the trust by outright and irrevocable gifts, and I will do so, I promise,” he said earlier this month.
Wednesday’s unanimous vote give the partnership between Cordish Cos. of Baltimore and Greenwood Gaming & Entertainment, owners of Parx Casino, the possibility to continue with the plans to build a casino near the stadium complex in South Philadelphia, as pennlive.com reported. More appeals are expected from the parties that lost the license.
“The adjudication will be issued with the reasons and then within 30 days there would be an opportunity for appeal. When you have an award that is made and it’s a couple of years after that award, then you have to go back and make sure that the suitability of the financing for the project is in place,” said board spokesman Doug Harbach.
