S. Philly Entrepreneurs Offer A Casino That’s Right At Home

Joe Procacci, successful produce merchant, and Dr. Walter Lomax, a former medical practitioner turned business leader, want to deliver Philadelphia a “truly full size Casino complex. Operating as PHL Gaming, LLC.  they call it Casino Revolution and its South Philadelphia location along Packer Avenue has little impact on neighborhoods.

Procacci, 85, owns 60% of the company. He was recently joined by another new investor with neighborhood ties, Dr. Walter Lomax, also  a former South Philly-based medical practitioner, and current chairman of Lomax Cos., which will own 9% of the company.

“I am very familiar with my neighborhood and very fond of its people,” Procacci stated with pride. “Without a doubt, this is the South Philadelphia site that will best preserve and enhance the quality of life for South Philadelphians.”

“PHL has the best, least-neighborhood-intrusive location among all of the bidders, and unparalleled, convenient, accessibility to major interstates,” Lomax said. “Perhaps equally important to us was learning that the company has a top-down commitment to maximize the economic benefits of the property for local Philadelphia workers and business owners, and for minority and female workers and businesses. That was very important in our final decision.”

Procacci wants to build his casino on a parcel of land between Packer and Pattison Avenues, Front and Third Streets. If successful in its bid for the available casino management license, PHL Local Gaming will operate under the name “Casino Revolution”, a high-quality, destination-caliber, 250-room hotel and casino, with 2,000 slots, 85 table games, an Italian restaurant, a steak house, a coffee/espresso bar, a 200-seat banquet/events room and a 156-seat cafe.

Proccaci says no other bidder can match his $51 million out-of-the-gate neighborhood stimulus, and believes his team will generate 600 immediate jobs, with a long-term goal of 35% employment exclusively from South Philadelphia.

Proccaci says that among the six casino sites, “Casino Revolution” is the furthest removed from a residential area – almost one mile, according to its prospectus.

There are five other bidders for the casino license, including two more on Packer Avenue.

They are: Tower Entertainment, LLC (The Provence) at 400 N. Broad Street; Market East Associates (Casino Philadelphia)at 8th & Market Streets; Wynn PA, Inc. (Wynn Philadelphia) at 2001 Beach Street; and 2001 through 2005 Richmond Street; PA Gaming Ventures, LLC (Hollywood Casino Philadelphia) at 700 Packer Avenue; and Stadium Casino, LLC (Live! Hotel and Casino) at 900 Packer Avenue.

The casino license entitles the operator to up to 5,000 slot machines and 250 tables games, according to The Pennsylvania Gaming Control Board.

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