SOURCE: PHL Local Gaming, LLC

Millennium 3 Management

June 18, 2014 11:54 ET

PHL Local Gaming Plans to Add Space Needle-Like Skyspire to Its LoSo Entertainment Center

The Addition of the Tower Would Arguably Create Philadelphia's Most Popular Tourist Attraction

PHILADELPHIA, PA--(Marketwired - June 18, 2014) - PHL Local Gaming, one of five bidders for the available Category 2 casino gaming license, in Philadelphia, today announced that it has initiated discussions with the principal owners of U.S. Thrill Rides, the creators of some of the country's largest and most dynamic amusement attractions, to bring that company's Skyspire to PHL Local Gaming's adjacent, casino-related, LoSo Entertainment Center. The proposed 615-foot-tall amusement tower, which would feature gondolas seating upwards of 10 persons, and a rooftop restaurant and observation deck, would be co-developed with the proposed Casino Revolution gaming facility.

The proposed Casino Revolution Skyspire would be designed to look very much like the Space Needle, in Seattle, Washington, but would be built to be 10 feet taller than Seattle's 605-foot attraction. Given that the Space Needle routinely attracts approximately one million visitors per year, PHL Local's officers believe that adding the Skyspire to LoSo and its proposed casino would arguably make their site the city of Philadelphia's most popular visitor attraction.

U.S. Thrill Rides, with a 20-year history of creating attractions for theme parks and gaming facilities, nationwide, has installed more than 300 rides, to date, in places such as Six Flags, Paramount and MGM Grand.

According to Joseph Canfora, president, PHL Local Gaming, the proposed Skyspire addition will consistently generate sufficient visitor traffic, even in a highly competitive casino gaming environment, to ensure that the $428 million casino's revenue goals are achieved, on an ongoing basis.

Commenting on the proposed agreement with PHL Local Gaming, Michael Kitchen, president, U.S. Thrill Rides, said, "We're very excited about the possibility of bringing our Skyspire attraction to Philadelphia. In addition to being a world-caliber amusement attraction and a stunning piece of architecture, the Skyspire also constitutes a 'wow factor with class' that appeals to the very young, to seniors and all other adult demographics. Sited together with Casino Revolution and its family-friendly LoSo concept, we believe it can be a unique, blockbuster attraction for Philadelphia."

About PHL Local Gaming, LLC

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 2800 free parking spaces.

In addition, PHL Local Gaming announced in September 2013, its plan to introduce its LoSo Entertainment Center concept, which would comprise, among other things, an indoor water park, food and beverage and retail attractions, soccer fields, racquet sports, an indoor swimming pool, a zip-line park, rock-climbing facilities, a golf driving range and areas devoted to music and live entertainment.

PHL local Gaming has said that it is able to open its proposed casino at least six months earlier than any of the other four bidders, producing 600 jobs, $10 million in wages and $54 million in state and city taxes, before any of the others 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.

About U.S. Thrill Rides

Based in Orlando, Florida, U.S. Thrill Rides, one of the world's leading amusement park design companies, has extensive experience in developing and manufacturing amusement attractions (http://www.usthrillrides.com).

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