Four years after landing a gaming license for a controversial location, Foxwoods investors’ luck finally ran out yesterday.
The state Gaming Control Board’s decision to revoke the license for the stalled South Philadelphia riverfront gaming parlor — the state’s first revocation — leaves the license’s future uncertain. According to state law, the license must stay in Philadelphia — but a potential appeal from Foxwoods investors could indefinitely delay a decision.
“It’s a good day for us. It’s a good day for the neighborhood,” said City Councilman Frank DiCicco, whose district includes the site on Columbus Boulevard at Reed Street. Critics had long argued the location was the worst of the five proposed in the city because of traffic concerns.
The casino was originally backed by a tribal group that operates two Foxwoods locations in Connecticut. Once that group ran into financial troubles, things began to unravel.
A potential move to Market East was shot down by gaming regulators and earlier this year, Las Vegas gaming mogul Steve Wynn stepped up to save the project before abruptly backing out. Most recently, investors were trying to work out a deal with Harrah’s, but the gaming board grew tired of the group asking for more time.
“It’s been a long and torturous road here,” Mayor Michael Nutter said Thursday at City Hall. “They’ve obviously had some significant challenges.”