Cordish details over $325m in Live! casino economic contributions

The Cordish Companies has revealed that its Live! Casino & Hotel Philadelphia contributed more than $325m to the local and state economies as it celebrates its first anniversary. 

Located in the heart of the Philadelphia Stadium District, the Live! Casino & Hotel Philadelphia, which represents an investment of more than $700m, also contributed more than $91m in taxes to the Commonwealth of Pennsylvania. Furthermore, team members were compensated with $51.9m in wages. 

“We’re so proud of the positive impact that we’ve made on our local communities during our first year in business and thank the city of Philadelphia for their kind recognition,” said David Cordish, chairman, The Cordish Companies.

“We kept our promise to create a world-class destination, which has also proven to be an economic driver for the Greater Philadelphia region.”

The opening of the facility created over 1,300 new, permanent jobs, with over 54 per cent of team members residing in the city of Philadelphia. In addition, Live! spent over $100m with local, minority and women-owned businesses. Guests were also on the winning side with more than $81.7m in total jackpot payouts. 

The Cordish Companies also revealed its contribution to the local community following its entry into the market. 

Charitable organisations across the greater Philadelphia region received more than $454,000 in contributions through cash donations and in-kind support, with team members volunteering over 500 hours of community service.

Among the beneficiaries were Philabundance, American Red Cross, American Cancer Society, Alzheimer’s Association, USO of Pennsylvania and Southern New Jersey, Boys & Girls Clubs of Philadelphia, Jaws Youth Playbook, Darren Daulton Foundation, the Delaware Valley and Southeast Youth Athletic Leagues.

“As a family-owned company, we consider the community to be extended members of the Live! Family,” added Joe Billhimer, executive vice president, Cordish Gaming Group.

“We’re proud to be able to provide jobs and support local businesses, in addition to contributing directly to the organisations helping to better the lives of those around us. We look forward to continuing this support during year two, and beyond.”