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Cordish company consummated the acquisition of a property in Philadelphia to develop a US$600 million casino

Niji Narayan

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Live! Hotel and Casino, the stadium casino proposed for Philadelphia by Greenwood Racing, who operates Bensalem’s Parx Casino, and Baltimore-based Cordish Company, who operates Maryland Live!, has been given the green light. The Philadelphia Planning Commission has now formally approved the proposed master project plan for the Stadium Casino facility. Photo credits: G3 Newswire
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Cordish is a company that invests in real estate, including entertainment mixed-use development, gambling, lodging, shopping centres etc., consummated the acquisition of a property in South Philadelphia in order to establish a US$600 million casino.

The Philadelphia property records reveal that Cordish is now the owner of a property in South Philadelphia where it plans to develop a US$600 million casino. The company paid US$37 million for the property, which is currently occupied by a Holiday Inn hotel, which is due to be renovated.

Cordish will commence construction work on the South Philadelphia Live! Casino and Hotel this year. It comprises giving the current building a facelift and remodelling into a boutique hotel with around 200 rooms. Moreover, a separate construction will be developed to house a casino with 2,000 slot machines and 125 table games in 100,000 square feet.

The venue will also comprise restaurants and entertainment venues along with a 2,600-vehicle parking garage which is set to be built. Construction is anticipated to be complete by 2020 when Cordish plans to finally open the casino-hotel next to the stadiums of some of the most significant sports teams in the US.

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