BALTIMORE and CHATTANOOGA, Tenn., July 25, 2018 /PRNewswire/ -- Stadium
Casino, LLC (a joint venture of The Cordish Companies and
Greenwood Gaming & Entertainment) and CBL Properties (NYSE:
CBL) today announced plans to develop an approximately 100,000
square foot casino and entertainment complex at CBL's Westmoreland
Mall in Hempfield Township,
Westmoreland County, PA. The
1.2 million square foot retail, dining and entertainment
destination is located directly off Route 30, approximately 30
miles from downtown Pittsburgh.
The new casino will be located in the space currently occupied
by the Bon-Ton department store, which will close in early
August. The casino is projected to create more than 600 jobs
and generate millions of dollars annually to the local
community. The project is subject to the review and approval
of the Pennsylvania Gaming Control Board. Once approved, a
construction timeline will be determined.
"We look forward to working with the Gaming Control Board,
Hempfield Township and
Westmoreland County in creating an
exciting new destination in Westmoreland
County," stated Joe Weinberg,
Partner in Stadium Casino, LLC. "The property is ideally situated
in the Region, with excellent infrastructure and road networks in
place. The synergy of this new gaming and entertainment
facility with the existing retail and dining amenities in the
property and surrounding area will be tremendous."
Commenting on the announcement, CBL's CEO, Stephen Lebovitz said, "CBL's strategy is to
reinvent its properties by bringing new and exciting experiences to
our shoppers. We are adding fitness, dining, hotels and other uses
to properties throughout our portfolio. The addition of a casino to
Westmoreland Mall is the ultimate combination of entertainment,
dining and experience. We are especially pleased to attract two
leading developers of high-profile gaming and entertainment
destinations, The Cordish Companies and Greenwood Gaming &
Entertainment. This combination of gaming and new dining venues,
which is the first in the CBL portfolio will draw new traffic to
Westmoreland Mall from across the region, positioning the property
for long-term growth and success."
"I've worked for nine years to expand gaming to allow ancillary
casinos, so it's gratifying to see this finally coming to
fruition. This project will bring a sizeable increase in our
tax base, a significant number of full time jobs, and will help
revitalize the Westmoreland Mall complex," Stated State Senator
Kim Ward.
About CBL Properties
Headquartered in Chattanooga,
TN, CBL Properties owns and manages a national portfolio of
market-dominant properties located in dynamic and growing
communities. CBL's portfolio is comprised of 117 properties
totaling 72.8 million square feet across 26 states, including 74
high-quality enclosed, outlet and open-air retail centers and 11
properties managed for third parties. CBL continuously strengthens
its company and portfolio through active management, aggressive
leasing and profitable reinvestment in its properties. For more
information, visit cblproperties.com.
Information included herein contains "forward-looking
statements" within the meaning of the federal securities
laws. Such statements are inherently subject to risks and
uncertainties, many of which cannot be predicted with accuracy and
some of which might not even be anticipated. Future events
and actual events, financial and otherwise, may differ materially
from the events and results discussed in the forward-looking
statements. The reader is directed to the Company's various
filings with the Securities and Exchange Commission, including
without limitation the Company's Annual Report on Form 10-K, and
the "Management's Discussion and Analysis of Financial Condition
and Results of Operations" included therein, for a discussion of
such risks and uncertainties.
About The Cordish Companies
The Cordish Companies' origins date back to 1910 and encompass
four generations of privately-held, family ownership. During the
past ten decades, The Cordish Companies has grown into a global
leader in Real Estate Development, Gaming & Hospitality,
Entertainment Management and International Urban Planning &
Development. One of the largest and most respected developers in
the world, The Cordish Companies has been awarded an unprecedented
seven Urban Land Institute Awards for Excellence for public-private
developments that are of unique significance to the cities in which
they are located. Prime examples are The Cordish Companies'
prominent role in the redevelopment of Baltimore's world famous Inner Harbor;
Philadelphia, PA; Atlantic City, NJ; Charleston, SC; Houston, TX; Louisville, KY; Kansas City, MO and St. Louis, MO.
In addition, The Cordish Companies has developed and operates
multiple highly acclaimed casino, entertainment and hospitality
destinations throughout the United
States which welcome over 50 million visitors per year and
are the most visited destinations in their respective regions. In
Florida, The Cordish Companies
developed the highly acclaimed Seminole Hard Rock Hotel &
Casinos in Hollywood and
Tampa. The Company is the owner and operator of Live! Hotel
& Casino, one of the top grossing casinos in the
U.S. Over the generations, The Cordish Companies has
remained true to the family's core values of quality,
entrepreneurial spirit, long-term personal relationships and
integrity. As a testimony to the long-term vision of its family
leadership, The Cordish Companies still owns and manages virtually
every business it has created. For more information visit
www.cordish.com or follow us on Twitter (@cordishco).
"The Cordish Companies," "The Cordish Company" and "Cordish" are
trademarks used under license by independent corporations, legal
liability companies and partnerships ("Cordish Entities"). Each
Cordish Entity is a separate, single-purpose legal entity that is
solely responsible for its obligations and liabilities. No common
operations or financial interdependency, and no intermingling of
assets or liabilities of the Cordish Entities exists, or should be
deemed to exist, as a result of the potential common reference to
multiple independent entities operating under the names "Cordish,"
"The Cordish Companies" or "The Cordish Company" here or
elsewhere.
About Greenwood Gaming and Entertainment, Inc.
Parx Casino® is the top casino in Pennsylvania. It is conveniently located 20
minutes north of center city Philadelphia, I-95 exit 37 or PA Turnpike exit
351 (westbound), exit 352 (eastbound) onto Street Road in
Bensalem. Parx features over
200,000 square feet of gaming; over 3,300 slot machines and 133
live table games; over 80 poker tables; live racing & simulcast
action; Parx Grill, an upscale
signature restaurant; Foodies quick service dining; Chickie's &
Pete's Crab House and Sports Bar; 360 bar and live music venue; Jax
sports bar; Circle Bar; Bamboo Noodle House; XLounge, an
ultra-modern luxury lounge and complimentary Parking for over 5,000
cars. In January 2018, Parx debuted a
$50M expansion that included the
opening of the 1,500 seat live entertainment venue, the Xcite
Center; the Liberty Bell Gastropub, with a farm-to-fork inspired
menu; Oliveto, featuring New York
City style pizza and Italian Classics; Parx Poker, the brand
new poker room moving inside the main casino. For more information
on Parx Casino®, visitwww.parxcasino.com
View original
content:http://www.prnewswire.com/news-releases/stadium-casino-llc-and-cbl-properties-announce-satellite-casino-entertainment-facility-joining-cbls-westmoreland-mall-in-hempfield-township-pa-300686758.html
SOURCE Stadium Casino, LLC