Cordish buys land for Philadelphia casino
Cordish has completed the acquisition of a property in South Philadelphia to develop a US$600 million casino.
US.- According to Philadelphia property records, Cordish is now the owner of a property in South Philadelphia where it plans to develop a US$600 million casino. The company paid US$37 million for the property, currently occupied by a Holiday Inn hotel, which is due to be renovated.
Cordish will begin construction work on the South Philadelphia Live! Casino and Hotel this year. It will include revamping the current building and turning it into a boutique hotel with around 200 rooms. Furthermore, a separate construction will be developed to house a casino with 2,000 slot machines and 125 table games in 100,000 square feet.
The venue will also include restaurants and entertainment venues in addition to a 2,600-vehicle parking garage which is set to be built. Construction is expected to be complete by 2020, when Cordish plans to finally open the casino-hotel next to the stadiums of some of the most important sports teams in the US.
