Committee Votes to Re-Bid Foxwoods License
The revoked Foxwoods casino license would be re-bid via a statewide public auction, under legislation penned by House Gaming Oversight Committee chairman Curt Schroder (R-Chester). HB 65 was written to maximize state revenues, and would set the minimum bid for the casino license at $66.5-million dollars. The original category 2 licenses were sold for $50-million dollars.
The committee voted 21 to 4 in favor of Schroder’s bill, today. It now heads to the House floor. Meanwhile, the Foxwoods developers have appealed the revocation of their license in Commonwealth Court.
The Foxwoods casino project was awarded its category 2 casino license in December of 2006. After years of delays and financing woes, the Pennsylvania Gaming Control Board voted to revoke the Foxwoods license in December 2010. Under current law, if the Foxwoods license is awarded to another casino developer it must stay within the City of Philadelphia.
Earlier this fall, Pennsylvania Treasurer Rob McCord told a Senate committee that South York and Reading were the two alternative locations that would have the biggest impact on net revenues. McCord’s analysis of PA’s gaming markets finds that a western Philadelphia casino site could generate the 5th greatest gain to statewide gaming revenues. The site of the proposed Foxwoods site checked in at number nine on that list.
