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Live Casino – Go live! Casino & Hotel Project Philadelphia’s remaining gaming license would not only generate the most revenue for the city and state, said Joe Weinberg, Cordish’s president of gaming and resorts, but also create the prospect of a more walkable stadium district.

When asked in a recent interview at his Baltimore office why the Pennsylvania Gaming Control Board should choose Live! At the suggestion of Cordish and partner Greenwood Gaming, Weinberg went straight to the location at 900 Packer Ave., instead of competing for the other four licenses.

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This corner of Packer and Darien Streets is close to both I-76 and I-95, and Weinberg said this easy car access is key to the success of any regional casino.

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“And we are part of a stadium district that today attracts over 8 million visitors a year with 300 events a year,” he said. “It would be a huge traffic driver for the gaming facility.”

Weinberg said the casino in the stadium area also offers less direct competition to SugarHouse Casino on Delaware Avenue in Fishtown. “So it generates the most new revenue and bears the least amount of cannibalization,” he said.

Highway access, nearby sports facilities and distance from SugarHouse can set Live! from two downtown competitors: The Provence at Broad and Callowhill and Market8 at 8th and Market. But two other proposals would be in the stadium area: Casino Revolution wants to build at Front Street and Pattison Avenue, and Hollywood even closer to 700 Packer Ave.

Weinberg said the regional casino experience of the Cordish/Greenwood team, which owns and operates the proposed casino, sets them apart.

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“The two Hard Rock casinos that (Cordish) developed in Florida — the Hollywood/Ft. Lauderdale and Tampa — those are the most successful casinos in the entire country, including Las Vegas,” he said. “Our Maryland Live! Opened a few years ago, this property in the Baltimore/Washington corridor is the highest grossing casino in the entire Mid-Atlantic region, surpassing everything in Maryland, West Virginia, Delaware, Pennsylvania and New Jersey,” said he. “Our Greenwood partners have the largest casino in Pennsylvania (Parx Bensalem). The combination of Cordish and Greenwood already owns the number one and number two properties in the area.

(Note: Last fiscal year, Parx generated the most revenue from slots. But Sands in Bethleham generated the most revenue from table games. See the state reports here. Read Baltimore’s view of the Sun from Maryland Live’s performance as the regional slot champion here.)

Weinberg says there’s also a geographic difference between the three South Philadelphia proposals. To maximize the synergy between stadium events and the casino, it is necessary to create a true integration with the stadium neighborhood: a pedestrian connection. And 10th Street is the backbone of connections to the stadium area and XFINITY Live! which is owned and operated by Cordish.

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Weinberg describes restaurants and music venues with windows and doors on 10th Street, which he says would encourage walking. “The 10th Street corridor that borders our property is an important part of that walking experience … that you can’t get to the (Hollywood) property or the (Revolution) property, which is about a mile down the road,” he. said. “People don’t walk that distance.”

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Weinberg also spoke to Xfinity Live! of the planned expansion, which he says will now draw 2.5 to 3 million visitors annually, and the symbiotic relationship that would develop between the sports arenas, XFINITY Live! and Live! Hotel and casino.

“Audiences who come to stadium events, sporting events, concerts and other special events are big potential customers for the casino entertainment complex as well as the hotel,” he said. He said sporting events and concerts connect the wider regional market as people travel from neighboring states to watch them. This means Live! Hotel & Casino, he said.

Some critics argue that stadiums would deter people from going to stadium-area casinos because many don’t want to deal with game or concert day traffic. And that the casino would aggravate the traffic problems of the residents.

Weinberg said the casino and its amenities would entice concert or game-goers to stay in the area longer, and staggered departure times would help calm traffic while generating revenue for the casino.

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At the same time, people coming just for the casino will time their trips to avoid traffic from other events, just as casino-goers everywhere avoid the morning and evening rush hours, he said. (See traffic studies of this and other proposals on the PGCB website here.)

And many customers also come on non-event days, some to play, some for other casino services or XFINITY Live! “People come to XFINITY to experience the Flyers and Eagles road games,” he said. “They consider it their stadium, even for away games.”

XFINITY Live! and the stadiums would be what Cordish calls the “co-complaint” of the proposed Philadelphia casino. Weinberg said such an arrangement is a “key ingredient” to Cordish’s casino formula.

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“Here in Maryland, we built the largest commercial casino in the country alongside the largest regional shopping center in the country,” he said. “There’s a huge synergy between the mall and the casino.”

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For example, he said, December is typically the month with the lowest casino revenue, but Maryland Live! cross-promoted with the shopping center next door. “We had our strongest December of the year,” he said. “We took what would have been the weakest moon and made it the strongest by boosting the CG.”

The Hardrock of Hollywood / Ft. Lauderdale didn’t have a co-host, so “We built a big shopping and entertainment village,” which includes 13 restaurants, a 6,000-seat live music venue, 10 nightclubs, retail stores, a museum, a wrestling arena with alligators. and a 12-acre lake.

When Deputy Mayor Alan Greenberger testified before the National Gaming Authority in September, he noted the connection between the proposed casino and Xfinity Live and its potential to generate more active street life in the area.

But the city doesn’t expect that to happen. “For this, the developer should develop and implement a high-quality proposed design standard for both his project and the road network between himself and XFINTY Live! Our experience working with the developer on XFINITY Live! project would leave us with some concern about the likelihood of that happening,” Greenberger told the commission. The city supports XFINITY Live! construction, but believes “the quality of the building and surrounding streetscape … is below what was originally planned and designed,” he said.

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The city’s economic analysis also disagrees with Weinberg’s contention that a casino in the stadium district would be the best economic solution. It came to the opposite conclusion, asserting that Market8 and The Provence make the most money and have the greatest potential to spur economic growth beyond their borders.

He said he accepted the revenue projections provided by the proposed casinos without considering whether the numbers were realistic. Center City facilities have more gaming units, he said, but “just because you have more tables and more slots doesn’t mean you’re getting more revenue. The market is the market. If it was simple: The more units you have, the the more income you get, then we would all enter an infinite number of game positions.

Weinberg said the study didn’t take enough into account how successful casinos are designed. He said the importance of (car) access and parking was not understood. And “the multi-story casino design has not been very successful anywhere in the country.”

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Wynn Resorts has withdrawn the $900 million proposal for the Delaware Riverfront from competition, Weinberg noted. Wynn said only that it was in response to growing competition in the region. “I strongly believe it happened because they realized that a $900 million project didn’t make sense in the market,” Weinberg said.

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The scope and size of Live! He said the Casino & Hotel — a $425 million project with 2,000 slot machines and 125 table games — is based on analysis that this market supports.

Asked if Cordish and Greenwood had filed any kind of rebuttal to the city’s casino analysis, Weinberg said, “We really didn’t think it merited a response.” He believes the PGCB sees the same mistakes he sees. “Anyone who understands the gaming industry understands that the research presented was not in line with industry standards.”

Life! The casino and hotel proposal includes 200 “luxury boutique hotel rooms” created by renovating an existing hotel. (Weinberg would not speculate on whether Cordish might otherwise renovate the hotel

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