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September 1, 2014, 7:37 am

Millionaire Lomax bids on S. Philly casino site

Gambling center proposal includes hotel, restaurant

 

PHL Local Gaming LLC will hold a press conference Tuesday afternoon, Jan. 29 to announce details of a significant investment by Dr. Walter Lomax and family.

PHL Local Gaming is one of six bidders for the available casino license in Philadelphia. Last November, the group proposed a $367 million casino and hotel on 23 acres on either side of the 3300 block of South Front Street.

Lomax is the founder of the Lomax Companies, a private investment firm based in Chalfont, Pa, which focuses on venture capital and real estate.

PHL Local Gaming represents the interests of Joseph Procacci, founder and chief executive of Procacci Brothers Sales Corp., a large tomato supplier.

Details of the Lomax family investment will be made during a press conference held at 12:30 p.m. today at Procacci Brothers Sales Corp, 3333 South Front Street.

The proposed casino would extend from Front to Third streets on Pattison Avenue.

The gaming hall would be called Casino Revolution and feature 2,000 slot machines, 85 table games, a 250-room hotel, restaurants and an entertainment arena.

In addition to the three sites in South Philadelphia, the six groups are bidding for the city’s second casino license including two sites in Center City and one on the Delaware River waterfront.