Regions Midatlantic | Philadephia
Dec 19, 2007
By: Michael Fickes, Contributing Correspondent
The Pennsylvania Gaming Control Board yesterday approved a $250 million Phase I master plan for the Philadelphia Park Casino and Racetrack in Bensalem, Penn. The plan was developed by Greenwood Gaming and Entertainment, which owns Philadelphia Park.
The approval came in the nick of time. It allows the facility to begin operating under a permanent license as of today. Pennsylvania’s Gaming Act required Philadelphia Park to operate under a conditional one-year license. “We could not renew the conditional license, which expires today,” a spokesperson for the PGCB told CPN today. “We have been going back and forth about their plans, and the Board didn’t want to grant a permanent license without understanding exactly what Greenwood Gaming was planning.”
In November of 2006, when PGCB issued the conditional license, Greenwood Gaming executives said they planned to spend $500 million on a new casino and entertainment facility adjacent to the existing track. A temporary casino was set up in the grandstands.
In May of this year, Greenwood Gaming decided to make the temporary casino permanent. The Pennsylvania Thoroughbred Horsemen’s Association, the Commonwealth’s Horseracing Commission, criticized the plan, noting that the existing facility had always been considered temporary and accusing the company of backing away from its original commitment.
Following several months of maneuvering by each side, Greenwood Gaming responded with the $250 million plan approved yesterday. The new facility will house 4,000 slot machines, a food court, several restaurants and a poker video bar. One of the restaurants will be adjacent to a multi purpose room expected to provide live entertainment.
“Over the past couple of months, the company really stepped up with the new plan that the Horsemen’s Association approved,” the spokesperson said.
By: Michael Fickes, Contributing Correspondent
The Pennsylvania Gaming Control Board yesterday approved a $250 million Phase I master plan for the Philadelphia Park Casino and Racetrack in Bensalem, Penn. The plan was developed by Greenwood Gaming and Entertainment, which owns Philadelphia Park. The approval came in the nick of time. It allows the facility to begin operating under a permanent license as of today. Pennsylvania’s Gaming Act required Philadelphia Park to operate under a conditional one-year license. “We could not renew the conditional license, which expires today,” a spokesperson for the PGCB told CPN today. “We have been going back and forth about their plans, and the Board didn’t want to grant a permanent license without understanding exactly what Greenwood Gaming was planning.”
In November of 2006, when PGCB issued the conditional license, Greenwood Gaming executives said they planned to spend $500 million on a new casino and entertainment facility adjacent to the existing track. A temporary casino was set up in the grandstands.
In May of this year, Greenwood Gaming decided to make the temporary casino permanent. The Pennsylvania Thoroughbred Horsemen’s Association, the Commonwealth’s Horseracing Commission, criticized the plan, noting that the existing facility had always been considered temporary and accusing the company of backing away from its original commitment.
Following several months of maneuvering by each side, Greenwood Gaming responded with the $250 million plan approved yesterday. The new facility will house 4,000 slot machines, a food court, several restaurants and a poker video bar. One of the restaurants will be adjacent to a multi purpose room expected to provide live entertainment.
“Over the past couple of months, the company really stepped up with the new plan that the Horsemen’s Association approved,” the spokesperson said.
Recent Philadelphia Headlines
May 16, 2008 - Source: Philadelphia Business Journal
May 15, 2008
May 14, 2008
May 14, 2008
May 12, 2008