Hampered by lack of financing, indecision over location and strong citizen opposition
Things are going from bad to worse for Foxwoods’ moribund $500 million casino proposal on the Delaware River in Philadelphia.
Cyrus Pitre, a lawyer for the state Gaming Control Board, said he is filing a complaint to revoke Foxwoods’ license casino. The license was granted back in December 2006, but the facility has never come close to full construction, hampered by a lack of financing, indecision over where to build it and strong citizen opposition.
Foxwoods officials have 30 days to submit documents opposing revocation and will get at least one hearing before the board. There also could be court appeals and the process could drag on for months.
“I am sure it will be a heated battle,” Pitre said. “There is a lot of money at stake.”
The board, meanwhile, has refused to give Foxwoods the six additional months it had requested to line up new investors. Regulators also continued the $2,000-a-day fine they've imposed on the property’s investors, a penalty that has now hit $300,000.
If the board does end up revoking the Foxwoods slots license, other casino developers could compete for it, but locations for a new slots parlor would have to be within Philadelphia city limits. Casino magnate Donald Trump had tried to get a Philadelphia license in 2006 and is believed to still be interested.
Foxwoods missed a deadline of December for submitting necessary data to the board about its progress, and will almost certainly miss the board's deadline of next May for having at least 1,500 slots in operation. Las Vegas casino tycoon Steve Wynn had expressed interest in rescuing the stalled project but then shocked Philadelphia officials a month ago by unexpectedly dropping out.
Stalled Philly casino could lose license
May 5, 2010