Who’s Getting Philly’s 2nd Casino License?

We’re down to the proverbial wire: this week marks the deadline for those interested in snapping up the city’s second (and final) casino license. The five comers are going head-to-head over the opportunity to bring another casino to Philadelphia, with each touting the advantages of their own proposals: location, entertainment options, promised jobs, and plenty of glitz ‘n glamor. Meanwhile, some are grumbling over the question of whether the city really needs another one of these establishments at all.

Market8 is one of the candidates vying for the final license, and Goldberg’s proposal is the most ambitious of the lot

Among the candidates are Ken Goldberg and his Market8 project, which would utilize space along the East Market Street corridor. Goldberg’s projected slot earnings (for 2016, the hypothetical opening year) are the highest of all those proposed. Live!Philadelphia boasts the backing of the owners of the Mid-Atlantic’s two most-profitable casinos, who claim their fundamental understanding of the geographic area and the inherent economic factors give them an edge. A French-themed casino named Provence is third, and the Hollywood Casino, backed partially by a nonprofit and with plans to distribute profits to schools and municipal pensions, is fourth. And then there’s “the tomato king,” Joe Procacci, whose proposal for an unused produce factory was motivated thusly: “why not?”

There have been murmurs, however, that maybe a second casino isn’t the hottest idea right now. SugarHouse’s Greg Carlin believes that the local market is saturated, and that adding another competitor could cause both SugarHouse and the newbie to go the way of Atlantic City’s troubled slots parlors. Others have criticized the projections drawn up by those vying for the new license, arguing that the numbers are unrealistic. Then there are the businesses, schools, and churches surrounding the spots earmarked as potential future casino space, who are taking a vehement NIMBY stance.

The Legislature first authorized gambling in Pennsylvania in 2004, as part of an act that also brought horseracing in as a means of economic development. At that time, two casino licenses for Philly were authorized. SugarHouse Casino snapped up the first license and opened its doors in 2012; now the remaining license is up for grabs.

Any of the links above provide additional reading on the topic, as well as some of the heated debate.

What are your thoughts, is a second casino a boon to our city?