Live! Casino & Hotel Philadelphia

The casino was planned to incorporate an existing Holiday Inn hotel in the city's stadium district. The hotel was built by a group led by Bankers Securities Corp. at a cost of $7 million, and opened in 1974 as the Philadelphia Hilton Inn.{{cite news|title=Mayor to open new hotel|newspaper=Philadelphia Inquirer|author=Oscar B. Teller|date=April 14, 1974|url=https://www.newspapers.com/clip/15424800/real_estate_building_briefs/|via=Newspapers.com}} In 1976, local wine distributor Armand Ceritano acquired a controlling stake in the hotel, which had operated at a steep loss and was facing foreclosure.{{cite news|title=Hilton sold to Ceritano|newspaper=Philadelphia Inquirer|date=December 31, 1976|url=https://www.newspapers.com/clip/15424858/hilton_sold_to_ceritano/|via=Newspapers.com}}{{cite news|title=The wine man tries to charm the wolves|newspaper=Philadelphia Inquirer|author=Andrea Knox|date=July 24, 1977|url=https://www.newspapers.com/clip/15424866/ceritano_his_recognition_factor/|via=Newspapers.com}} Ceritano put the hotel into bankruptcy the following year and was forced out.{{cite news|title=Ceritano is barred from hotel|newspaper=Philadelphia Inquirer|author=Dick Pothier|date=September 30, 1977|url=https://www.newspapers.com/clip/15425281/ceritano_is_barred_from_hotel/|via=Newspapers.com}} In 1985, it was acquired by Connecticut-based Colonial Real Estate.{{cite news|title=QB plays hardball with hotel's staff|newspaper=Philadelphia Daily News|author=Rose DeWolf|date=March 31, 1993|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F0EB2A06242D2F99E&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}} Colonial collapsed in the early 1990s, causing the hotel to go into bankruptcy again and lose its franchise agreement with Hilton, after which it was renamed as the Philadelphia Court Hotel. In 1993, it was purchased by an investment group led by former Philadelphia Eagles quarterback Ron Jaworski, and became a Holiday Inn.{{cite news|title=Hotel near the Vet to be a Holiday Inn|newspaper=Philadelphia Inquirer|author=Tom Belden|date=May 28, 1993|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F0EB2A4E9CA7A54DF&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}

In 2004, Pennsylvania legalized casinos, authorizing up to 14 gaming licenses to be issued statewide, with two of them allocated to stand-alone casinos to be built in Philadelphia.{{cite news|title=Pennsylvania's newly minted slots law|newspaper=Philadelphia Daily News|date=July 6, 2004|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F103B2DB76EAD5B41&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}} The Pennsylvania Gaming Control Board awarded those two licenses to SugarHouse Casino and Foxwoods Casino Philadelphia, but Foxwoods failed to obtain financing for its construction, and its license was revoked in 2010.{{cite news|title=On the waterfront: Foxwoods and SugarHouse win city slots licenses|newspaper=Philadelphia Inquirer|author1=Jeff Shields|author2=Angela Couloumbis|date=December 21, 2006|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F1178ED30C2EA4AC8&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}{{cite news|title=Gambling panel revokes license for proposed Foxwoods casino project in Philadelphia|newspaper=Press of Atlantic City|author=Donald Wittkowski|date=December 16, 2010|url=http://www.pressofatlanticcity.com/news/breaking/article_a0410938-093d-11e0-ad91-001cc4c002e0.html|accessdate=2017-11-27}} The license remained in limbo for two years as Foxwoods unsuccessfully appealed the decision, and legislators then debated putting the license up for statewide bid.{{cite news|title=Philadelphia gets to keep its casino license|newspaper=Philadelphia Inquirer|author1=Suzette Parmley|author2=Troy Graham|date=July 11, 2012|url=http://www.philly.com/philly/news/breaking/20120711_Philadelphias_2d_casino_again_up_for_grabs.html|accessdate=2017-11-27}} In July 2012, the Board opened a new round of applications for the second Philadelphia casino license.

Cordish and Greenwood began evaluating sites shortly after the opening of the application process.{{cite news|title=Group eyes casino-hotel at sports complex's Holiday Inn|newspaper=Philadelphia Inquirer|author=Suzette Parmley|date=November 2, 2012|url=http://www.philly.com/philly/business/20121102_Group_eyes_casino-hotel_at_sports_complex_s_Holiday_Inn.html|accessdate=2017-11-25}} In November 2012, they announced their proposal for a hotel-casino built around the Holiday Inn. It was one of six applications submitted to the Board.{{cite news|title=Sixth group applies for license to open Phila. casino|newspaper=Philadelphia Inquirer|author=Jennifer Lin|date=November 16, 2012|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F1429D9BEFA46E648&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}} After two of the applicants withdrew, the Board selected the Cordish/Greenwood proposal as the best of the four remaining bids in November 2014.{{cite news|title=For 2d Phila. casino license, expect a quick meeting|newspaper=Philadelphia Inquirer|author=Harold Brubaker|date=November 18, 2014|url=http://www.philly.com/philly/business/20141118_Issuing_license_for_2nd_casino_could_be_a_quick_meeting.html|accessdate=2017-11-25}}{{cite news|title=Stadium-district casino wins new Philly license|newspaper=Washington Times|agency=AP|author1=Sean Carlin|author2=Marc Levy|date=November 18, 2014|url=https://www.washingtontimes.com/news/2014/nov/18/stadium-district-casino-wins-new-philly-license/|accessdate=2017-11-25}}

The Board's decision was appealed by the other three applicants and by the competing SugarHouse Casino, who charged that the Board did not properly consider all the factors required by law.{{cite news|title=Challenge in works on second casino license|newspaper=Philadelphia Inquirer|author=Jeff Gelles|date=December 19, 2014|url=http://www.philly.com/philly/business/20141219_Blatstein_to_file_appeal_with_Gaming_Control_Board.html|accessdate=2017-11-25}} The project also faced opposition from African-American community groups because of allegations of racial discrimination at other Cordish properties;{{cite news|title=African-American leaders to air concerns about casino company|newspaper=Philadelphia Inquirer|author=Mensah M. Dean|date=November 11, 2015|url=http://www.philly.com/philly/news/20151111_African-American_leaders_to_air_concerns_about_casino_company.html|accessdate=2017-11-25}}{{cite news|title=Casino company cultivating black friends in high places following claims of racism|newspaper=Philadelphia Inquirer|author=Mensah M. Dean|date=October 15, 2015|url=http://www.philly.com/philly/news/politics/20151015_Casino_company_cultivating_black_friends_in_high_places_following_claims_of_racism.html|accessdate=2017-11-25}} those concerns were largely defused after Cordish signed a community benefits agreement promising that much of the casino's hiring and contracting would go to minorities.{{cite news|title=Casino developers win support of five community groups|newspaper=Philadelphia Inquirer|author=Harold Brubaker|date=November 13, 2015|url=http://www.philly.com/philly/business/tourism_casinos/20151113_Casino_developers_win_support_of_five_community_groups.html|accessdate=2017-11-25}}{{cite news|title=City sweetens hand in deal with casino developers|newspaper=Philadelphia Tribune|author=Ayana Jones|date=November 14, 2015|url=http://www.phillytrib.com/news/city-sweetens-hand-in-deal-with-casino-developers/article_968a6f72-4c3b-5118-9f46-1a3673a64774.html|accessdate=2017-11-25}}

The project remained stalled in court for three years, because of claims that it would run afoul of a state law prohibiting any casino owner from owning more than a one-third interest in another casino within the state; Greenwood principal Bob Manoukian already owned a majority share of the Parx Casino, and he and his sons together would own a half interest in the Live! casino.{{cite news|title=South Philly casino still stalled in court -- two years after award|newspaper=Philadelphia Inquirer|author=Harold Brubaker|date=November 30, 2016|url=http://www.philly.com/philly/business/tourism_casinos/South-Philly-casino-still-stalled-in-court---two-years-after-award.html|accessdate=2017-11-25}}{{cite news|title=Big win for a 2nd Philly casino: SugarHouse drops its objections|newspaper=Philadelphia Inquirer|author=Linda Loyd|date=November 2, 2017|url=http://www.philly.com/philly/business/tourism_casinos/big-win-for-a-2nd-philly-casino-sugarhouse-drops-its-years-long-fight-against-licensing-decision-20171102.html|accessdate=2017-11-25}} The issue became moot in October 2017 when the state enacted a gaming expansion law that lifted the prohibition of multiple casino ownership. The lawsuit was promptly dropped, and Cordish stated that construction would begin in 2018, with completion planned for 2020. The planned opening date was delayed to early 2021 due to the COVID-19 pandemic.{{cite web|last=Darrow|first=Chuck|title=The Casino File: Live! Philadelphia opening delayed until 2021, but its owner’s PA push is underway - plus Bally’s news and an Ocean win|publisher=BettorsInsider|date=August 28, 2020|url=https://www.bettorsinsider.com/casino/2020/08/28/the-casino-file-philly-live-opening-delayed-until-2021-but-its-owners-pennsylvania-push-is-underway-plus-ballys-news-and-an-ocean-win|accessdate=November 29, 2020}}

Cordish and Greenwood closed on their purchase of the site in January 2018 for $37 million.{{cite news|title=Live! Hotel and Casino site traded for more than $35M|newspaper=Philadelphia Business Journal|author=Natalie Kostelni|date=March 2, 2018|url=https://www.bizjournals.com/philadelphia/news/2018/03/02/cordish-paid-live-hotel-casino-site-south-philly.html|accessdate=2018-11-24}} Some demolition work at the site was performed later that year.{{cite news|title=Cordish acquires 100% control of Philly stadium casino project|newspaper=Philadelphia Inquirer|author=Andrew Maykuth|date=November 21, 2018|url=http://www2.philly.com/philly/business/tourism_casinos/stadium-casino-parx-cordish-corporate-restructuring-extension-20181121.html|accessdate=2018-11-24}} In November 2018, Cordish announced that it would buy out Greenwood's interests, taking full ownership of the project. They also stated that the hotel tower would be demolished instead of renovated; as the project had evolved, they had decided that the tower's position at the center of the site would conflict with plans for an expansive casino floor.{{cite news|title=Long-delayed Philly stadium casino sets 2020 target for start-up|newspaper=Philadelphia Inquirer|author=Andrew Maykuth|date=November 28, 2018|url=http://www2.philly.com/philly/business/tourism_casinos/philly-live-stadium-casino-parx-cordish-2020-startup-pgcb-20181128.html|accessdate=2018-12-08}}

On October 30, 2019, the Pennsylvania Gaming Control Board approved a sports betting license for the casino. Online sports betting is planned to be offered before the casino opens in 2021.{{cite news|last=Maykuth|first=Andrew|title=Philly’s Stadium Casino won’t be open for a year. But it’ll start taking online sports bets soon|work=The Philadelphia Inquirer|date=October 30, 2019|url=https://www.inquirer.com/business/pennsylvania-approves-sports-betting-philly-stadium-casino-cordish-20191030.html|accessdate=November 3, 2019}}

Live! Casino & Hotel Philadelphia opened on January 19, 2021 with a series of reservation-only preview days for reward members.{{cite news|author=Staff|title=Live! Casino & Hotel Officially Opens For Reward Members On Tuesday|publisher=KYW-TV|location=Philadelphia, PA|date=January 19, 2021|url=https://philadelphia.cbslocal.com/2021/01/19/live-casino-hotel-officially-opens-for-reward-members-on-tuesday/|accessdate=January 19, 2021}} The casino opened to the public on February 4, 2021, with a grand opening week celebration held.{{cite news|author=Staff|title=Live! Casino & Hotel opens in South Philadelphia|publisher=WPVI-TV|location=Philadelphia, PA|date=February 4, 2021|url=https://6abc.com/business/new-casino-opening-in-south-philadelphia/10301613/|accessdate=February 4, 2021}}

In March 2022, Cordish sold the land and building to Gaming and Leisure Properties (GLP) in a leaseback transaction. GLP paid $674 million for Live Casino Philadelphia and its sister property Live Casino Pittsburgh, and leased them back to Cordish for $50 million per year.{{cite news|title=Penn National spinoff closes on $674M real estate deal including Live! Casino Philadelphia|work=Philadelphia Business Journal|date=March 3, 2022|author=Laura Smythe|url=https://www.bizjournals.com/philadelphia/news/2022/03/03/penn-national-spinoff-closes-pa-live-casinos.html|accessdate=2022-03-05}}

The casino has over 2,100 slot machines and electronic table games, 150 table games, a 29-table poker room, and a sportsbook called FanDuel Sportsbook. The complex also has a 12-story hotel with 208 rooms, dining, entertainment, a 6-room event center with {{convert|15000|sqft|m2}} of meeting space, a parking garage, and surface parking lots.{{cite news|last=Tanenbaum|first=Michael|title=Live! Casino & Hotel sets grand opening date in South Philly|publisher=PhillyVoice|date=January 6, 2021|url=https://www.phillyvoice.com/philly-live-casino-hotel-opening-date-february-11-2021/?fbclid=IwAR0DRkGAdp_RnIrF8GAmtSFvilxYuablOpt3uhSg85BjhvNioW0FEAhyRpQ|accessdate=January 7, 2021}}

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Category:Casinos in Pennsylvania

Category:Buildings and structures in Philadelphia

Category:The Cordish Companies

Category:Casinos completed in 2021

Category:Hotel buildings completed in 2021

Category:Hotels established in 2021

Category:2021 establishments in Pennsylvania

Category:Casino hotels in Pennsylvania