The developer of Philadelphia's second casino – Live! Hotel and Casino – in the Stadium District of South Philadelphia has agreed to pay workers a better wage, as well as hire and employ women and minorities.
Stadium Casino LLC announced Friday that it has agreed to what it termed four "groundbreaking initiatives" with the city, including commitments for a diverse and inclusive workforce, payment of a living wage and the formation of a diversity advisory board.
"The agreements set a new standard for development in Philadelphia in areas of economic opportunity and inclusivity for local residents," the company said in a statement.
Stadium Casino LLC, a partnership between The Cordish Companies and Greenwood Gaming and Entertainment Inc., the operator of the Parx casino in Bensalem, Bucks County, entered into an Economic Opportunity Plan with the city that will set the following hiring goals for women and minorities:
• 47 percent to 58 percent of construction contractors to be Minority Business Enterprises/Women Business Enterprises
• 50 percent to 60 percent of post-construction professional services and suppliers to be MBE/WBE
• 42 percent to 50 percent of the construction workforce to be minority
• 50 percent of the permanent workforce to be minority and 40 percent to be women
• 60 percent of the construction and permanent workforce to be local residents and 85 percent to be Pennsylvania residents.
The company also committed to pay its 3,000 construction workers and its 2,000 permanent workers a minimum wage of no less than $12 per hour.
About 750 of the permanent jobs will be related to table games, with workers expected to earn $70,000 on average annually, including tips, the company said.
In addition, the casino developer said it has signed a Community Benefits Agreement (CBA) with all five neighborhood groups surrounding the project that sets up a Community Charitable Fund of at least $15 million in grants to local communities during construction and 20 years of operations.
Finally, Stadium Casino LLC agreed to report to a Diversity Advisory Board to ensure its compliance with the initiatives. City Councilman Kenyatta Johnson is expected to announce soon who will sit on the committee, the company said.
The $450 million project at 900 Packer Ave. is expected to generate more than $2 billion in economic stimulus to the city, along with tax revenues of $100 million to the city in the first five years of operation, including $25 million to the School District of Philadelphia.
The hotel will include a Las Vegas-style casino floor, featuring more than 2,000 slot machines and 125 table games, a 200+ room upscale boutique hotel and full spa, restaurants and live entertainment venues, and a parking garage with space for about 2,600 cars.