Monday, November 29, 2004

Las Vegas on the Delaware

One of the world’s largest gaming companies - Caesar's - is floating a plan to build a $350 million slots parlor and entertainment complex on Delaware Avenue. The plan outlines a two-phase project: First, an 80,000-sq. ft. facility with 3,000 slot machines, a 2,500-seat theater, and a number of stores and restaurants. Phase two would add a luxurious 500-room luxury hotel. The goal is to create a destination resort. Projections for the first phase include 1,000 construction jobs and 2,000 permanent jobs. An additional 2,000 permanent jobs could be created after the hotel is constructed. When completed, the complex would generate hundreds of millions in local and state tax revenue. This is fantastic news for Philadelphia; great for tourism, the local economy, and for state and City tax coffers. Hail Caesar, Hail Caesar!

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