PHILADELPHIA, Oct. 5, 2005 (PRIMEZONE) -- The Penn's Landing Corporation today announced that it has issued a "Request for Proposals -- Casino and Related Development" (RFP) for the 11.5 acre site, commonly known as the Incinerator and Festival Pier Site, located along the Delaware River at the northeast intersection of north Columbus Boulevard and Spring Garden Street. Penn's Landing seeks casino and related development proposals from qualified real estate developers, gaming operators, other developers, and development teams. Proposers will be required to submit to Penn's Landing their qualifications, proposed development program, business proposal, preliminary local impact assessment and strategies to lessen the effects of gaming on the surrounding area, and an economic opportunity plan. Penn's Landing strongly encourages meaningful and substantial participation from certified minority, female and disabled businesses and other Philadelphia businesses of all sizes in the ownership, development, design, construction, and operation of the project.
Dr. Gene Newton, Board Chairman of Penn's Landing Corporation, stated "We're taking this action today because we want to evaluate specific proposals to develop gaming and related facilities at this particular site which was referenced in the Philadelphia Gaming Advisory Task Force Interim Report of Findings. We believe this RFP process will provide a basis for achieving that goal in an open and competitive manner."
The timing of the RFP review process has been influenced by the Pennsylvania Gaming Control Board requirement that applications for Category 2 slot machine licenses are due by December 28, 2005. The responses to the RFP are due on November 1, 2005. It is currently anticipated that Penn's Landing will identify a short-list of proposers by November 23, 2005, with final selection to occur on or about December 6, 2005. The selected proposer will be required to submit an application to the Pennsylvania Gaming Control Board for a Category 2 slot machine license for this site.
The RFP is available on the Penn's Landing Web site at www.pennslandingcorp.com.
The Penn's Landing Corporation logo is available at: http://media.primezone.com/prs/single/?pkgid=349