Supplier News
US – Philadelphia Council approves zoning for Stadium Casino
By Phil - 17 November 2015
The Philadelphia City Council Rules Committee has unanimously endorsed the zoning for Stadium Casino, LLC’s new destination hotel casino resort in Philadelphia’s Stadium District.
The Project, which was awarded the last casino license in the Commonwealth by the Pennsylvania Gaming Control Board in late 2014, is being developed in partnership between The Cordish Companies and Parx Casino.
The privately financed $450m world-class project will be located at 900 Packer Avenue, bound by 10th and Darien Streets, and will include a Las Vegas-style casino floor featuring more than 2,000 slot machines and more than 125 table games; a new 200+ room luxury hotel, spa and conference center; valet parking and an approximately 2,600 space parking garage; local and nationally-recognized destination restaurants; and live entertainment venues. The Project is immediately proximate to the Philadelphia Sports Complex, already a major tourist destination, drawing 8.5 million visitors a year. Ideally situated off Interstates 76 and 95, the property is positioned to become a true regional destination resort casino.
“We appreciate the confidence shown in our team by the City Council,” stated Zed Smith, COO of The Cordish Companies and Tony Ricci, CEO of Parx Casino. “We can’t wait to get started in creating thousands of jobs and career opportunities for the people of Philadelphia.”
Stadium Casino, LLC will set a new standard in development in the City of Philadelphia in the areas of economic opportunity and inclusivity for local residents. The Project will generate over $2 billion in economic stimulus along with $100m in tax revenues for the City in just its first five years of operation, including $25m to Philadelphia’s School District. Stadium Casino will also create 3,000 new construction jobs which will generate approximately $145m million in estimated new wages and salaries (direct and indirect) during construction. Upon completion of the Project, 2,000 new permanent jobs will be created. Hourly workers will earn a living wage of at least $12 per hour for all employment categories including subcontractors and vendors. Career opportunities will be available in every field, including hotel operations, finance, marketing, human resources, information technologies, food and beverage, facilities, security and surveillance and gaming operations.
Stadium Casino has committed to a groundbreaking Economic Opportunity Plan with the City of Philadelphia that has set several unprecedented goals in the areas of minority and local hiring initiatives. These goals include 58 to 65 per cent of the construction contract value to be Minority Business Enterprises/Women Business Enterprises (MBE/WBE); 58 to 60 per cent of the post-construction professional services and supplier contract value to be MBE/WBE; 50 per cent of the construction workforce to be minority; 50 per cent of the permanent workforce to be minority and 40 per cent to be women; 50 per cent of the construction and permanent workforce to be local residents and 85 per cent to be Commonwealth residents. The Project is also committed to establishing partnerships with local educational institutions to operate training programs for potential workers at the casino, including pre-opening community-based job fairs; local job placement workshops; on-line job postings, job matching and customized recruitment services; contractor mentoring and apprenticeship; community-based information sessions on job opportunities and training programs; and community college and university partnerships for job placement.
The Stadium District Hotel and Casino project will be one of the major charitable contributors and participants in the community and has received support from all five surrounding South Philadelphia Neighborhood Groups, including the Sports Complex Special Services District, Stadium Community Council, Veterans Stadium Neighbors Civic Association, Whiteman Council and the South Philadelphia Communities Civic Association. Stadium Casino remains committed to engaging community groups and residents within the civic associations to work together to enact improvements in the neighbourhoods and has established a Community Charitable Fund amounting to a minimum of $15m in grants from the project to local communities during construction and the first 20 years of operations.
“The Stadium Casino agreement with the City is transformative and sets a new gold standard for inclusive economic development in the City,” stated Steven Bradley, Chair African American Chamber.
