Construction on Live! Hotel and Casino expected to start next year. On 6th November, David Cordish, CEO for The Cordish Company, tweeted an excellent news. Indeed the CEO of the mega-corporation announced “thrilled to build of the Live! Hotel and Casino, on one of the premier locations in the US”.
This news immediately became viral. The new establishment will cost just over $600 million and the property will open its doors in 2020 in Pennsylvania. Pa residents are already excited by the promise of new jobs. In a recent interview given to ABC 2, Cordish refers to the venue as a mecca of entertainment. Indeed the facility will not only have a casino but a shopping center and a hotel. The Cordish Companies has a 50% stake in the construction of this new building. This company also has interest in 3 other casinos. Two located in Florida and another one located in Baltimore.
What to expect at the new Live! Hotel and Casino?
The current plans for the venue are 200,000 sq ft on top of a 2,600 sq ft parking garage. The hotel will have a total of 200 luxurious rooms as well as a casino with 2,000 slots and 125 classic table games.
There’s no doubt that this is a massive expansion for the Cordish Company. But also a great news for PA resident since the industry is showing great prospect. It’s important to know that on top of the building cost, a $50 million fee is payable to The Pennsylvania Gaming Control Board. The license fees are due before 15th November.
36 licenses in 2018
As you know PGCB aims to only distribute 36 licenses in 2018. A few companies have reported interest in obtaining a license. But the Cordish Company is the first firm to announce a new building. We, of course, anticipate that more new building announcement will soon follow. We’ll make sure to report any news on this front to our readers once further announcements were made public.