Foxwoods Receives Final Chance To Postpone Casino Development

November 17th, 2010 – by Glen Farmer

The Pennsylvania Gaming Control Board has postponed stripping Foxwoods of the license to develop a casino in Philadelphia. Foxwoods will have until December 10th to submit evidence to the Gaming Control Board that the deal to give Harrah’s Entertainment control of the project is finalized.

The casino’s license has been four years in the making, and on December 16th the commissioners will decide whether or not the license, which is four years in the works, should be revoked.

Investors and Harrah’s have already given some insight as to what the casino will hold. According to preliminary drafts, 60,000 square feet of casino will be built. Housed in this casino will be approximately 1,500 slots and 80 tables for games. Restaurants, an enormous parking surface, and special sections for high limit tables will be built into the casino.

The Gaming Control Board will have to see all of the documentation showing that the casino is capable of moving forward.

If the casino does manage to move forward, it is expected that it will be up and running before the summer of 2012.

Financing will play a major role in the success of future casino project. Developers will have to secure financing before the casino project can truly begin to move forward.

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