Who owns sugarhouse casino
Who owns sugarhouse casino
SugarHouse Casino is owned and operated by Rush Street Gaming, a privately held casino and entertainment company based in Chicago.
In 2006, Rush Street Gaming received a Category 1 gaming license from the Pennsylvania Gaming Control Board (PGCB) to build a casino in Philadelphia. SugarHouse Casino opened its doors in September 2010 and has since become one of the most popular casinos in Pennsylvania.
Ownership Structure
SugarHouse Casino is a wholly-owned subsidiary of Rush Street Gaming. Rush Street Gaming is a privately held casino gaming company based in Chicago, Illinois. The company was founded in 2003 by Neil Bluhm, who is also the company's chairman and CEO.
Historical Development
SugarHouse Casino's journey began in 2008, when the Pennsylvania Gaming Control Board selected Market East Associates (a partnership between Greenwood Gaming and Development and Rush Street Gaming) to develop a casino in downtown Philadelphia.
Construction commenced in 2009, and the casino officially opened its doors in September 2010. In its early years, SugarHouse established itself as a popular gaming venue, attracting visitors from both Philadelphia and surrounding areas.
In 2017, Kambi Group partnered with SugarHouse to provide online sports betting services. This marked the casino's entry into the growing online gambling market.
In 2018, Rush Street Gaming acquired full ownership of SugarHouse, strengthening its position in the Philadelphia casino market.
Throughout its history, SugarHouse Casino has undergone several expansions and renovations to enhance the gaming experience for its guests.
Acquisition and Sale Timeline
2009: SugarHouse Casino opens in Fishtown, Philadelphia as a riverboat casino.
2010: The Pennsylvania Gaming Control Board approves SugarHouse's expansion plan, allowing for a land-based casino and hotel.
2012: SugarHouse completes its expansion, becoming the first and only land-based casino in Philadelphia.
2017: Rush Street Gaming acquires SugarHouse Casino for $1.3 billion.
2020: Rush Street Gaming announces plans to sell SugarHouse Casino to Penn National Gaming for $2.4 billion.
2021: Penn National Gaming completes the acquisition of SugarHouse Casino, solidifying its position as the largest casino operator in the Philadelphia market.