Save the date: RealShare Philadelphia comes to the Crystal Tearoom in Philadelphia on March 7.
PHILADELPHIA-A dispute among investor partners of Philadelphia’s first casino that has delayed a planned expansion project has been resolved.
Terms of the agreement between the parties were not disclosed. The rift between the partners resulted in a lawsuit filed in Delaware Chancery Court. The investor partners in the SugarHouse Casino include attorney Richard Sprague, auto executive Robert Potamkin, Chicago developer Neil Bluhm and SugarHouse chief executive Gregory Carlin.
“The pending lawsuit relating to SugarHouse Casino and its partners has been resolved amicably, concluding a dispute regarding the casino’s business plans,” says SugarHouse spokesman Jack Horner said in a statement.
The lawsuit delayed a $142-million expansion that was to include a new parking garage and nearly doubling the gaming space According to the Philadelphia Inquirer, the local investors and the Chicago investors disagreed over whether the scope of the expansion project was large enough. It is not known what impact the settlement will have on the expansion project. See story in the Philadelphia Inquirer.