Cordish takes over Philadelphia casino project
The Cordish Companies has announced it is taking full ownership of the city’s second casino’s construction project.
US.- A project for a second casino in Philadelphia has been long delayed but that may soon change as The Cordish Companies has announced it is taking over it. The Baltimore-based company has parted ways with former partner Greenwood Gaming, with which it had joint venture Stadium Casino LLC to develop the gaming venue.
In 2014, the joint venture – set to be completely owned by Cordish – had been issued a licence by the Pennsylvania Gaming Control Board to develop and operate a casino complex in Philadelphia’s stadium district. However, the companies recently fell-out and were reportedly looking for a buyer for their gaming licences in the state until Cordish’s announcement.
The operator will take over the South Philly casino licence, and the mini-casino Stadium was also allowed to develop as well. The second venue is set to be constructed in Westmoreland County and is part of the gambling expansion that was recently approved in the state.
“We at Cordish are excited to now immediately get to work on constructing and opening two first-class casinos for Pennsylvania, which will create thousands of new, quality jobs for local residents, and hundreds of millions of dollars in new taxes for the commonwealth,” Joe Weinberg, managing member of Stadium Casino Baltimore Investors LLC, said in a statement.
