Health-care businessman Dr. Walter Lomax is teaming up with produce magnate Joseph Procacci of PHL Local Gaming, LLC, to bid on the second casino license for Philadelphia.
They have proposed a site at Front and Pattison in South Philadelphia, a mile away from the nearest residential area. The $367 million plan proposes a 250-room hotel and 2,000 slot machines.
While the project faces competition from five other bidders, PHL Local Gaming representatives say they have the premiere site next to the I-95.
“We think our site has the ability to expand in ways that our competitors can’t due to the sheer size of our footprint,” said Bennett Lomax, CEO of Lomax Companies. “We think that the access points are tremendous. We think that we are the least intrusive of all the gaming projects in terms of neighborhood interference.”
The bid is just the beginning of the process, which will likely take at least a year. The project will be discussed at public hearings and by the Pennsylvania Gaming Control Board, which will make the final decision
Procacci is the CEO of PHL Local Gaming, LLC, while the Lomaxes have made a significant investment in the project.