Regulators to reevaluate Live! casino

Pennsylvania’s Supreme Court has decided to ask state regulators to reevaluate the ownership of the upcoming South Philadelphia casino.

US.- The Supreme Court of Pennsylvania has unanimously ruled that gambling regulators must reevaluate the ownership of the upcoming South Philadelphia casino Live! Hotel & Casino. The first evaluation was conducted last year.

The court believes that the Pennsylvania Gaming Control Board has failed to calculate if the ownership group meets the limitations in state law on casino ownership, as the Associated Press reported. As revealed last year, the London-based businessman Watche Manoukian who owns a controlling stake in Parx Casino is the center of the investigation, as Pennsylvania’s law establishes that a majority casino owner is limited to only a one-third share in another casino.

Justice Debra Todd told the state’s gaming board that they should reexamine the extent of Manoukian’s involvement in the Live! casino, and that a public hearing should take place as part of the review. It is clear under the state laws that as the businessman’s ownership exceeds the 85 percent in Parx, he cannot hold an extra 33.3 percent in Live! Hotel & Casino.