SOURCE: PHL Local Gaming, LLC

Millennium 3 Management

January 23, 2014 12:10 ET

PHL Local Gaming Announces Project Team Addition

PHILADELPHIA, PA--(Marketwired - January 23, 2014) -  PHL Local Gaming, LLC, one of five bidders for the available Category 2 casino gaming license, in Philadelphia, today announced the addition of H.J. Russell + Company to the project team. H.J. Russell is an Atlanta-based construction firm and is also the 15th-largest African-American-owned business in the United States. Should PHL Local Gaming be selected as the licensee, the company is targeting the construction management on the proposed $428 million gaming facility to a potential joint venture, between Bala Cynwyd-based L.F. Driscoll Company, LLC and H.J. Russell + Company.

According to PHL equity participant Joseph Canfora, who also serves as PHL Local's president, the arrangement would "combine the collective expertise and capacity of Driscoll, the largest regionally based construction management firm in the Philadelphia area, with completed projects including the City's tallest structure, the Comcast Center; and the Russell firm, whose recent projects have included the Atlanta Falcons football stadium."

"Perhaps more importantly," said Canfora, "our approach ensures that PHL Local's 'Philadelphia First' economic impact philosophy is carried out. Aside from its extensive general construction market experience, the Russell company will be primarily responsible for ensuring that local minority and female construction firms and suppliers are also appropriately included during the proposed casino's construction phase."

"We are absolutely confident that utilizing primarily Philadelphia-area construction firms, and workforces, we can achieve our goal of being able to open the casino at least six months earlier than any other bidder would be able to do so."

Michael Russell, CEO, H.J. Russell, said: "We're looking forward to being engaged on what would be a transformative project for the city of Philadelphia. We're also anxious to attract to the project a broad array of high-quality female and minority firms, consistent with the goals in the company's Construction Diversity Plan."

As part of its previously announced commitment to local workforce inclusion and minority workforce inclusion, PHL Local has committed to goals of 75 percent local workers, 35 percent minority workers and 7 percent female workers.

Included in the company's construction-related supplier diversity goals, PHL Local Gaming has said it will do 32 percent of its construction contract revenue with minority firms and 15 percent with female firms. It has also said that all Philadelphia-based firms, regardless of race or ethnicity, will be eligible for a 7 percent bid preference and all southeast Pennsylvania-based firms will be eligible for a 5 percent bid preference.

About PHL Local Gaming

If successful in its bid for the available casino management license in Philadelphia, PHL Local Gaming, LLC plans to open "Casino Revolution," a $428 million, four-star-quality "destination-caliber," 250-room hotel and gaming facility. The casino will offer, within 18 months of winning the Category 2 license, 2400 slots, 105 table games, a steak house, a coffee/espresso bar, a high-end Italian restaurant, a 300-seat buffet, a 156-seat café and a covered, 1600-car garage.

PHL Local Gaming has said that it is able to open its casino at least six months earlier than any of the other four bidders, producing 600 jobs, $10 million in wages and $42 million in state and city taxes, before any of the other bidders would be able to open for business. Given its 25-acre site, PHL Local Gaming also has emphasized that it has the capacity to expand to the Commonwealth's 5000-slot maximum, over time, unlike any of the other bidders.

PHL Local has also announced a plan to introduce the Lower South (LoSo) Entertainment Center, a new, family-focused, recreational and entertainment district, in the current South Philadelphia Food Distribution area, if the company is successful in its bid. The Center would serve as a catalyst and cornerstone for economic transformation in the area, and would include attractions such as food-and-beverage and retail businesses, soccer fields, racquet sports, an indoor swimming pool, a zip-line park, rock-climbing facilities, a golf-driving range, a dry ski/skateboarding park, a water park, and areas devoted to music and live entertainment.

About L.F. Driscoll Company LLC

Founded in 1929, L.F. Driscoll Company LLC is the largest locally-based construction management firm in the Philadelphia region. In recent years, the company has built some of the largest landmark projects in the city of Philadelphia, including the Barnes Museum, Comcast Center, One Liberty Place, Kimmel Center for the Performing Arts, Citizens Bank Park and Wells Fargo Center.

About H.J Russell

With more than 60 years of experience, H.J. Russell + Company currently ranks among the top 400 construction firms, the top 100 construction management firms and the 100 largest African-American-owned firms in the United States.

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    Millennium 3 Management
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