Inside Gaming: South Philly Casino Approved, NY Casino Owners Face Tough Market –

This week’s installment of Inside Gaming shares news that the long planned-for casino in south Philadelphia has finally gotten the okay from regulators to move forward, tells of New York casino representatives acknowledging the challenge of operating in a saturated market, and passes on news of the U.S. president’s potential interest in Macau gaming.

South Philly Casino Plan Gets Go-Ahead from Gaming Board

On Wednesday the Pennsylvania Gaming Control Board gave the go-ahead to Stadium Casino LLC‘s proposal to build a casino and hotel in south Philadelphia, reports

The PGCB voted 7-0 in favor of the proposal, demonstrating its agreement with Stadium Casino LLC’s case that it is both in compliance with the state’s Gaming Act and that businessman Watche “Bob” Manoukian does not and will not hold a financial interest in the company exceeding 33.3 percent.

The latter provision was needed thanks to Manoukian’s 85-plus percent stake in Parx Casino in Bensalem and the state law preventing someone owning one casino property to own more than 33.3 percent of another.

Plans for the casino, to be named Live! Hotel & Casino Philadelphia, have been in the works for quite a while, dating back more than three years. Construction likely will not begin for another couple of months, with an opening coming at least a year after that. The project has previously been described as a two-million-square-foot complex including a 325,000-square-foot casino with 2,000 slot machines and an 18-story hotel. (An artist’s rendering appears above.)

In other Pennsylvania casino news, back in March we shared the news of MGM Resorts International having reportedly agreed to purchase Sands Bethlehem. However in May that deal — never confirmed officially by either side — fell through amid uncertainty regarding ongoing renovations to the property.

New York Casino Owners Acknowledge Challenging Market

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