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Philadelphia Developer Considers Building Casino

PHILADELPHIA – As reported by the Philadelphia Inquirer: "Once upon a time it was to be a glittering cinema and entertainment center, perched atop a 12-story parking garage overlooking the Vine Street Expressway. At other times the site was to be a hotel. Or a health-care complex. Or a pharmaceutical company headquarters. Or the entertainment and parking annex of a Phillies ballpark.

"…Now Dennis Maloomian is, as he puts it, 'daydreaming again' about what to build on his Vine Street site between 15th and 16th Streets at the edge of Center City.

"Perhaps, he says, it would be the best place to put one of the city's two slot parlors, authorized this year by the General Assembly. At this point he has no architectural plans, no high-priced lawyers or pending deals.

"…Maloomian said he started thinking about slots after reading about worries that a gambling venue near the Convention Center would snarl traffic and harm neighborhoods, historic sites and cultural institutions. In contrast, he said, his site is at major ramps on the Vine Street Expressway and a short walk from the Convention Center. It would not draw cars into the heart of Center City, he said.

"…Maloomian's company has a 99-year lease on the Vine Street site from the Philadelphia Parking Authority, which would, along with the Pennsylvania Department of Transportation, share in any rental income on the site…"

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