December 29, 2005
Slot machine fever!
Despite what you may personally feel about slot machines coming to Pennsylvania, you have to admit one thing: self-help guru Pat Croce investing in slot machines is almost as funny as Bill Cosby telling people to speak correctly. Because there's nothing that says "self-help" like "throwing your money away into a little box."
Yesterday was the state-imposed deadline for companies to submit proposals for slots parlors, and there are five companies vying for deals -- and none of the places these companies want to put the parlors are at the most logical spot across from the Convention Center. (Sorry, Funk-O-Mart, I love you, but if you have to go, you have to go.)
The five companies who applied for licenses in Philadelphia are:
- Foxwoods Development: Controlled by the Mashantucket Pequot Tribal Nation, the group is partnering with local investors (Ed Snider, Billy King, ex-Phillies centerfielder Garry Maddox) to build a $350 million casino on the Delaware Riverfront between Reed and Tasker streets.
- Pinnacle Entertainment: This Las Vegas-based company wants to build its casino in Fishtown. It'd include 3,000 slot machines, bars and restaurants and a movie theater.
- Donald Trump: This is the Pat Croce-backed plan. To be called TrumpStreet -- sigh -- it'd be at the former Budd Company location in Nicetown.
- Planet Hollywood: This is the Delaware river casino on the former city incinerator site. They're going to call it "Riverwalk."
- Sugar House Gaming: This company wants to build a $450 million casino on the Delaware riverfront.
None of these, with the possible exception of the Fishtown plan, seems all that great. But this is Philadelphia! What did you expect? Two proposals will be approved, in the obvious short turnaround of 12 months.
Placing their bets [Inky]
Posted by D-Mac on December 29, 2005 10:32 AM
Posted to Donald Trump
, Pat Croce
, Planet Hollywood
, Slots
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