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Harrah's To Invest In Long-Stalled Philly Casino

PHILADELPHIA (AP) ― Harrah's Entertainment has signed an agreement to invest in and manage the long-stalled Foxwoods casino project in South Philadelphia.

It's contingent on approval from the Pennsylvania Gaming Control Board.

The project hasn't had a lead investor since billionaire casino mogul Steve Wynn backed out in April.

The Philadelphia Inquirer reports Harrah's and the Foxwoods partners have a deal to put up a $438 million gaming hall on South Columbus Boulevard.

Doug Harbach, a spokesman for the gaming board, says officials will need time to review the paperwork before making a decision.

The casino would be the second in Philadelphia, which became the largest city in the country with casino gambling when the Sugarhouse Casino opened in the city's Fishtown/Northern Liberties neighborhood last month.

(© 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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