Live! Philadelphia to Launch Online Casino and Sportsbook by Next Year
After legalizing online casino gaming in late 2017, players finally have access to gaming in the state of Pennsylvania in an online setting. A few months ago, three casino operators went live with their offering, Parx Casino, Hollywood Casino and SugarHouse, now the Rivers brand. Players were provided with minimal gaming at the sites initially, with more games added over the past few weeks. Now, it seems another operator is preparing to offer not only online casino gaming but also sports betting, but not until next year. The Cordish Company has announced that their Live! Philadelphia casino will be online by the end of 2020.
This week, the Cordish Company discussed their plans for online casino and sports betting. The company had set a goal to have the online sportsbook launched by next fall, before they open their new facility in South Philly that will feature gaming, dining and entertainment. The sportsbook does not have an online operator as of yet, but the casino project of Philly Live! was approved on a preliminary basis by the state Gaming Control Board.
Before a topping off ceremony of the Live! Casino & Hotel Philadelphia, Cordish Company official Joe Weinberg stated that the brand is working through the process of finding a sportsbook operator. Construction continued as the topping off ceremony took place, with the casino project moving forward along.
The project was once known as the Stadium Casino and has been delayed for quite some time. The property is in a prime location, with entrances at I-76 and I-95. There are several venues within walking distance of the facility that should be helpful once the sports betting operations are up and running. The home of the Flyers, Eagles, Sixers and Phillies are all within walking distance, making it easy for sports fans to visit the casino facility.
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It is expected that the Philly Live! venue will be a hot spot for travelers. The sports locations nearby draw in 8.5 million visitors annually. The casino will be the only one in the region that offers a hotel, which will be perfect for those traveling to the sports events who want to get in on the betting action.
Will Over Saturation Be a Problem?
With the casino finally under construction, discussions have started regarding if the gaming market in Philadelphia will become oversaturated. Weinberg says no. According to the official, the frequency of sporting events via all the seasons will help to create tie-ins between the teams in Philadelphia and the facility as well as the sports arenas. There are lots of customer experience and partnerships.
Once the casino is completed, it will be home to a gaming space with 2,200 slot machines and electronic table games. A total of 150 traditional table games will be on site as well as a retail sportsbook. The hotel of the property will include 200 guest rooms along with restaurants and entertainment space.
With the project, the Cordish Company has created 2,000 permanent jobs as well as 3,000 in construction employment. Philadelphia is set to receive around $100 million in tax revenues during the first five years of operation. Another $25 million will be delegated to the school district.
The company also has plans to create a class 4 satellite casino in Westmoreland County. The project will have a $150 million price tag and will be located 30 miles from the Pittsburgh area. Ground-breaking is expected to take place later on this month.