Harrah's to invest in Foxwoods casino in Phila.

Image from www.foxwoodspa.com/

October 26, 2010 9:50:53 AM PDT
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.