{"id":25265,"date":"2019-11-04T09:24:25","date_gmt":"2019-11-04T17:24:25","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=25265"},"modified":"2020-10-19T06:56:27","modified_gmt":"2020-10-19T14:56:27","slug":"cordish-bully-on-philly","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/cordish-bully-on-philly\/","title":{"rendered":"Cordish bully on Philly"},"content":{"rendered":"

We’ll soon find out if the Philadelphia<\/strong> market can sustain five casinos when Cordish Gaming<\/strong>‘s\u00a0Live! Casino & Hotel Philadelphia<\/strong> opens, next \"\"door to Citizens Bank Park<\/strong> (baseball) and close to Lincoln Financial Field<\/strong>
\n(football) and Wells Fargo Center<\/strong> (basketball and hockey). Mind you, such a location was thought to be gangbusters for Horseshoe Baltimore<\/strong> and it didn’t pan out. At least being cheek by jowl with 81 baseball games should be good for something. Reports Global Gaming Business<\/em>, “This is the heart of South Philadelphia\u2019s Stadium District<\/strong>, which is typically mobbed with people, particularly on game day for one (or often two) of the city\u2019s professional sports teams. To many observers, it\u2019s the best site for a casino resort in the crowded Philadelphia region. Cordish officials feel it may be among the best sites in the country.”<\/p>\n

Said Cordish Gaming CEO Joseph Weinberg<\/strong>, rather inelegantly, \u201cWe have I-76, which dumps right into the site. We have two exits from I-95 that access the sports stadium district.” Even so, the location is targeted more on foot traffic from various and sundry stadiums. Reed Cordish<\/strong> set a high bar for the casino<\/a>, remarking\u00a0that it would be “a premier hotel and gaming destination on par with any other facility” in the U.S. The project is moving at top speed toward a 2020 opening. When complete it will boast 2,200 slots and 150 table games, plus a 200-room. It will be taxed at $20 million a year for its first five years. $5 million a year of that will be earmarked for education. We don’t know how Stadium Casino will flourish but the money is going to a good cause.<\/p>\n

* Vici Properties<\/strong>‘ acquisition of Dan Gilbert<\/strong>‘s remaining Ohio<\/strong> casino assets is playing to rave reviews<\/a> on Wall Street<\/strong>. Wrote Union Gaming Group<\/strong> analyst John DeCree<\/strong>, “VICI has begun to create some distance \"\"between itself and its peers. VICI appears to be emerging as the REIT partner of choice. VICI may have not been the highest bid for the Cleveland<\/strong> real estate, but the company\u2019s long-standing relationship and willingness to provide flexible solutions helped get this one to the finish line.\u201d The obnoxious Jack (or rather “JACK”) won’t be going away, however. Nor is it likely that we will see construction of the permanent casino that Gilbert promised Cleveland and never delivered.<\/p>\n

Jottings<\/em>: Those who remember how infamous Donald Trump<\/strong>‘s Atlantic City<\/strong> casinos were will enjoy this secret shopper report<\/a> on his Doral<\/strong> resort. Plus \u00e7a change<\/em>\u00a0and all that … Penn National Gaming<\/strong> reports that it has received “unsolicited interest” in the Tropicana Las Vegas<\/strong>. “Given the \"\"fluidity of these discussions, it’s impossible to put any kind of timetable on this,” said CEO Timothy Wilmott<\/strong> (left<\/em>). \u00a0… Scott “Woody” Butera<\/strong> appears in another MGM Minute<\/a>, looking scarily gaunt. We’re worried. CEO Jim Murren<\/strong> should assign Butera to evaluate all of MGM’s restaurants, repeatedly and at length … But seriously, folks, MGM Resorts International<\/strong> continues to be out front on sustainability. Its latest initiative is a mobile blast chiller, cooling food on the run and getting the company closer to its goal of delivering five million meals to the less fortunate … Having been thwarted in its anti-competitive move to merge with FanDuel<\/strong>, DFS giant DraftKings<\/strong> is on the block. Among the prospective buyers is former CBS<\/strong> President Jeff Sagansky<\/strong>. DraftKings downplayed the importance of the talks … Want to own an Internet casino? It’s not as expensive<\/a> as you might think\u2014and far cheaper than buying a cruise ship … Could sports betting become a reality in California<\/strong>? Yes, if state Assemblyman\u00a0Adam Gray<\/strong> (D) can get it onto the 2020 election ballot … Las Vegas Strip<\/strong> resorts are flirting with trouble by hosting rap festival Day N Vegas<\/strong> at the disused Rock in Rio<\/strong> festival grounds across from the Sahara<\/strong>. However, the most pressing concern seems to be finding enough parking spaces<\/a>.<\/p>\n