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Regulators delay decision on pulling Foxwoods' Philly project license - TheDay.com

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The Pennsylvania Gaming Control Board is planning further review of a call to revoke the license for the proposed Foxwoods Philadelphia casino project, following Wednesday's hearing on the matter.

After more than two hours of oral argument by lawyers for the Philadelphia Entertainment and Development Partners and the control board's

independent investigative division, which had called for the revocation of the slot machines license, the board decided to take the matter under advisement until a later date, board Spokesman Doug Harbach said.

Foxwoods Development Co., the commercial gaming entity of the Mashantucket Pequot Tribe, which owns Foxwoods Resort Casino and MGM Grand at Foxwoods, is a PEDP partner.

Harbach said the next opportunity the board would have to review the issue would be at its regular meeting on Nov. 18th.

"That does not mean the board is stalling revocation procedures, but needs additional time to review a substantial amount of information," Harbach said in an email.

In April, the board's Office of Enforcement Council petitioned for a summary judgment to revoke the license.

Since then, casino mogul Steve Wynn signed on and then pulled out of the project as a majority partner. On Tuesday, the remaining partners announced that Harrah's has agreed "in principle" to take a minority interest and management role in the project.

The deal, which is contingent on regulatory approval, financing and other conditions, would result in construction of a $438 million gaming hall on the banks of the Delaware River on South Columbus Boulevard, near Reed Street, in Philadelphia. Investors plan 1,500 slots and more than 70 table games there, plus several restaurants.

Also on Wednesday, the board ordered PEDP to pay about $62,000 outstanding from a $362,000 fine accruing at the rate of $2,000 per day, Harbach said.

The fine was placed on the group in February for its failure to meet conditions placed on them earlier, he said.

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Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFISnkw97awtA6mD2Mr7-EhgZXItQ&url=http://www.theday.com/article/20101028/BIZ02/310289326/1044

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