Pennsylvania investigates casino license
The upcoming casino was approved last December by Philadelphia’s council and it is going to be the 13th installed in Pennsylvania.
US.- Yesterday, the Pennsylvania Gaming Control Board was ordered by the state’s Supreme Court to investigate the Greenwood Gaming & Entertainment and Cordish Cos. license of the Live! Hotel & Casino. The law establishes that operators of the second casino of Philadelphia city cannot own more than 1/3 of the complex.
The investigation started after the only competitor in the city, SugarHouse Casino, questioned the legal arrangements of the further casino. As local media published, Watche “Bob” Manoukian –millionaire magnate who owns over 85 percent of the Parx Casino– could’ve acquired more than the third part of the Live! establishment. The accusation was supported by Market East Associates that affirms Manoukian made illegal transactions to hide his real ownership deal. Regional Justice endorsed the petition and now the operators are facing an investigation.
The project was a joint venture between Greenwood Gaming & Entertainment –Manoukian company– and Cordish Cos. of Baltimore. Both corporations invested US$450 million in the complex. The hotel will offer over 200 luxury rooms and a gaming saloon with more than 2,000 slots and 100 table games.
