Who owns rivers casino philadelphia
Who owns rivers casino philadelphia
If you're planning a trip to Philadelphia and want to experience the excitement of Rivers Casino, it's important to know who owns and operates the property. Understanding the ownership structure can provide insights into the casino's management, financial stability, and commitment to responsible gambling.
Rivers Casino Philadelphia is owned and operated by Rush Street Gaming, a leading gaming company based in Chicago, Illinois. RUSH Street Gaming has a long history of developing and managing successful casinos and resorts across the United States. They bring a wealth of experience and expertise to the Philadelphia market, ensuring that Rivers Casino is a top-notch destination for entertainment and gaming.
Owners and Stakeholders
Cordish Companies is the majority owner of Rivers Casino Philadelphia, with a 76% stake. The remaining 24% is owned by The Cordish Companies, a family-owned business based in Baltimore, Maryland.
In addition to the owners, Rivers Casino Philadelphia has a number of stakeholders, including:
Employees: The casino employs over 1,700 people, many of whom are residents of Philadelphia.
Customers: The casino attracts over 6 million visitors each year, who generate millions of dollars in revenue for the city.
Local businesses: The casino's presence has helped to revitalize the surrounding area, and has led to the creation of new businesses and jobs.
The City of Philadelphia: The casino pays taxes to the city, and has helped to generate revenue for local schools and other public services.
Acquisition and Development History
In 2019, Rush Street Gaming acquired Rivers Casino Philadelphia for $400 million. The acquisition included the casino's land and buildings, as well as its gaming license and operations. Rush Street Gaming invested $250 million in renovations to the casino, which reopened in 2020 as Rivers Philadelphia.
Rivers Philadelphia is a 100,000-square-foot casino with over 1,500 slot machines, 100 table games, and a poker room. The casino also features a variety of dining and entertainment options, including a steakhouse, a buffet, a sports bar, and a live music venue.