Rivers Casino Philadelphia partners with mixed-use luxury hotel development
Rush Street Gaming, owner of Rivers Casino Philadelphia, has long planned to build a hotel overlooking the Delaware River for the city's casino. Nearly 13 years after the casino opened, Rush officials say the company is finally ready to make the hotel a reality.
The Philadelphia River Casino is one of five casinos in the Philadelphia market and one of only two in the Philadelphia metropolitan area.Parx Casino is located near Bensalem, Valley Forge Casino Resort is located in King of Prussia, and Harrah's Philadelphia is located in Chester.
live! The Philadelphia Hotel & Casino, located in the Stadium District, is another casino in the city.
Rivers Philadelphia opened in September 2010 as SugarHouse.The property was renamed in 2019 to align with Rush's other Rivers-branded regional casinos in Pittsburgh, Des Plaines, Illinois, and Schenectady, upstate New York. Rush then opened the Rivers Casino in Portsmouth, Virginia.
In 2006, during its application for a license with the Pennsylvania Gaming Control Board, Rush representatives told state regulators that the Philadelphia casino would one day have an on-site hotel. Over the years, these plans have been repeatedly delayed. But the Chicago-based gaming operator announced this week that construction on a hotel has finally begun.
Power Plant Renovation
Philadelphia Rivers Casino is located next to Pennsylvania Treaty Park. On the other side of the public green space, PECO (Philadelphia Electric Co.) operates the Delaware River Generating System, which opened in 1921 and provided about half of the city's electricity before being decommissioned in 2008.
The PECO power plant was sold in 2015 to Bart Blatstein’s Tower Investments. Philadelphia real estate mogul Blatstein, who also owns Atlantic City's Showboat Hotel, originally planned to convert the facility into an event space.
Blastein abandoned those plans during the pandemic and eventually sold the property to Lupert Adler. Lubert-Adler is controlled by another prominent Pennsylvania businessman, Ira Lubert, who is trying to obtain a casino license for a mini-casino at the Nittany Mall near Penn State University.
Lupert's group is moving forward with a mixed-use development of the former power plant. The complex, known as "The Battery," will include residential buildings, office space, event space and a hotel.
Rivers officials announced this week that the casino is partnering with Lubert-Adler to develop the hotel portion of The Battery. The hotel will have 62 luxury rooms ranging in size from 854 sqm to suites of 2,300 sqm.
The hotel expansion at Philadelphia's Rivers Casino has been part of our master plan for the Fishtown property," said Tim Drehkoff, CEO of Rivers Casino and Rush Street Gaming."The Battery's location and size allow us to join an adjacent, ongoing Properties under construction that are of historic significance to Philadelphia. "
The casino is a short walk from the Battery along the Delaware River Trail.
Investment Commitment
The Battery is a 500,000 sq m redevelopment project that will include 171 residential units and 135,000 sq m of office space in addition to the hotel. Lubert-Adler opened a leasing office in May.
The residences and hotel also feature a lobby café and bar, co-working space, library, home office, golf simulator and putting green, indoor gym, and rooftop pool with private cabanas and lounges. Pier 61 will also provide an exclusive gathering place for residents and guests along the Delaware River.
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Source: www.casino.org
