Casino investment group encounters mix up with appeal of license revocation

12/16/2011 | Construction Blog, Real Estate Blog

Our readers may be aware of the recent developments with regard to a Casino planned for South Philadelphia. The investors behind the project had their casino license revoked by the Gaming Control Board last year after repeated delays in beginning construction.

On Monday, the investors planned to file a last-minute appeal of its license revocation to the state Supreme Court, but the appeal was apparently not filed before the deadline. That point has been contested by a Foxwoods investor, who said that the appeal had been filed but not recorded on the official court docket.

The Monday deadline was 30 days after a state court panel rejected an appeal to overturn the revocation by a vote of 6-1.

The license revocation was not a small matter financially for the investors. The gaming license itself is worth $50 million.

The project has certainly had its opponents, but sources said anti-casino groups calmed a bit after the seeming failure to appeal the license revocation. The project, which has been proposed for Columbus Boulevard between Tasker and Reed Streets, has a lot of neighborhood opposition.

The casino was to be the second one in the Philadelphia area, second to SugarHouse on Delaware Avenue. According to State Rep. Curt Schroder, legislation to put the group’s casino license up to statewide bid will be on hold until the appeal is resolved.

Last April, the casino project was delayed after investor Steve Wynn dropped out and left the group to find a replacement.

Source: philly.com, “Foxwoods files appeal to Pa. high court to save casino project,” Suzette Parmley, December 14, 2011.