SOURCE: PHL Local Gaming, LLC

Millennium 3 Management

November 12, 2013 16:03 ET

PHL Local Gaming to Introduce LoSo Entertainment Developer, Provide List of Potential Brands for the Proposed Complex

The Company Will Also Express Serious Concerns About the Philadelphia Planning Commission's Casino Report Methodology

PHILADELPHIA, PA--(Marketwired - November 12, 2013) - Representatives of media outlets are invited to attend a press briefing on Thursday, November 14, 2013, wherein PHL Local Gaming, LLC, one of five bidders for the available Category 2 gaming license in Philadelphia, will introduce a new development consultant, who will lead its effort to generate attractions, restaurants and entertainment options for its proposed Lower South (LoSo) Entertainment Center, which would be situated in what is currently described, in the city of Philadelphia's 2035 Lower South District Plan, as the Food Distribution Area.

As part of the presentation, PHL Local Gaming officials will announce a number of related brands that have already expressed interest in being situated in the LoSo Complex.

In addition, PHL Local Gaming officials plan to address their "serious concerns" about the methodology employed in the Philadelphia City Planning Commission's recent rankings of casino bidders, according to projected economic impact. They will stress that the report significantly underrepresented Casino Revolution's true economic potential, on a number of levels.

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. In its first year of operation, Casino Revolution will offer 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 also 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 unique capacity, among all bidders, to expand to the Commonwealth's 5000-slot maximum, over time.

PHL Local Gaming's LoSo Entertainment Center is projected to be 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. 

WHO:

  • Joseph Procacci, CEO/chairman, PHL Local Gaming, LLC
  • Joseph Canfora, president, PHL Local Gaming, LLC
  • John Burke, board member, PHL Local Gaming, LLC, former CFO, Trump Entertainment Resorts
  • Bennett Lomax, board member, PHL Local Gaming, CEO, The Lomax Companies
  • John O'Riordan, vice president, Community Affairs, PHL Local Gaming, LLC
  • Nicholas Lillo, president, Bianca Mano Corp.

WHEN: Thursday, November 14, 2013

11:00am

WHERE: Procacci Brothers Sales Corp

3333 South Front Street

Philadelphia, PA 19148‎

The following files are available for download:

Contact Information

  • Contact: A. Bruce Crawley
    Tel: 215-751-0140
    Email: abcrawley@m3mpr.com
    Twitter: @ABCrawley_M3MPR