The brick-and-mortar casino Live! Casino & Hotel Philadelphia, owned by The Cordish Companies has announced that, after just one year of operating, it has given back $325 million to the local and state economy and communities in Pennsylvania.
Live! Casino & Hotel Philadelphia opened its doors just a year ago, during a tumultuous time due to the ongoing coronavirus pandemic. However, it needn’t have worried as it quickly won the title of Best Overall Gaming Resort in Pennsylvania by Casino Player Magazine and went on to generate enough revenue that they could give back over a quarter of a million dollars in taxes, wages, and charitable initiatives.
In what is an eye-watering sum, The Cordish Companies broke down how the communities had benefited from the $325 million funds, revealing that:
- $91 million went to the Commonwealth of Pennsylvania in state taxes.
- $51.9 million went to staff wages.
- The casino spent $100 million with local, minority, and women-owned businesses.
- $454,000 in contributions to local charities through cash donations and in-kind support,
- Casino employees volunteering over 500 hours of community service.
- 1,300 new and permanent jobs were created by the launch of the casino, with over 54% of the team residing in Philadelphia.
- $81.7 million in jackpot payouts were paid out to customers to the casino.
“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 via press release. “We kept our promise to create a world-class destination, which has also proven to be an economic driver for the Greater Philadelphia region.”
Charities that have benefited from the funds donated by the casino include 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, among others.
“As a family-owned company, we consider the community to be extended members of the Live! family. We’re proud to be able to provide jobs and support local businesses, in addition to contributing directly to the organizations helping to better the lives of those around us,” said Joe Billhimer, Executive Vice President, Cordish Gaming Group. “We look forward to continuing this support during year two, and beyond.”
Due to the positive impact that the casino has made on the city of Philadelphia and its residents, City Representative Sheila Hess presented the company with a proclamation: stating that February 11 would be known as LIVE! DAY to celebrate the official anniversary of the casino opening its doors to Pennsylvanians.