In December 2010, the Pennsylvania Gaming Control Board awarded the state’s second casino license to a group led by sugar magnate William P. Hankowsky, develop Philadelphia Live! Casino & Hotel.
The $510 million dollar project is located in South Philadelphia on the site of the former Spectrum arena, and will feature 2,000 slot machines and 125 live table games.
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The group behind Philadelphia Live! is an experienced team of developers and casino operators, including:
PRO TIP:The Live! Casino & Hotel Philadelphia is owned and operated by The Cordish Companies, a real estate development company based in Baltimore, Maryland. The Cordish Companies also owns and operates the flagship Live! Casino & Hotel in Hanover, Maryland.
Hankowsky is the chairman, president, and CEO of Liberty Property Trust, a publicly traded real estate investment trust with a portfolio of industrial and office properties in the United States. He is also a member of the board of directors of PNC Financial Services.
Joseph Weinberg is the chairman and CEO of The Cordish Companies, a real estate development company based in Baltimore, Maryland. Cordish has developed major projects in cities across the United States, including Kansas City’s Power & Light District and Xfinity Live! in Philadelphia.
David Cordish is the son of Cordish Companies founder Melvin Cordish, and serves as the company’s president and CEO.
Weinberg and Hankowsky are equal partners in the Philadelphia Live! venture, with Cordish Companies holding a minority stake. The group has committed to investing $510 million dollars in the project, which will create over 1,000 new jobs.
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