Econsult Solutions, Inc. (ESI) president Stephen Mullin was quoted in this Dec. 1, 2014 Philadelphia Business Journal piece on Philadelphia’s newest casino license, which was recently awarded to the group representing LIVE! Hotel and Casino. That group plans to build the casino at 900 Packer Ave. in South Philadelphia’s Stadium District.
In the piece, Mullin says he feels like the city “missed the boat” with the casino license winner’s desired location and that a casino would have been better suited for an area in or around Center City Philadelphia, specifically North Broad Street.
An excerpt from the piece:
“I think we missed the boat on this one,’ said Stephen Mullin, president at Econsult Solutions, a consulting firm in Philadelphia. ‘We managed to simultaneously maximize cannibalization, clobber [Harrah’s in Chester], minimize pay revenue impact and minimize the economic development spinoff all in one decision here for Philadelphia…’
‘One of the big issues associated with Center City is this misnomer that it’s improving, but it’s by no means anywhere near the capacity in terms of density and activity that it could be,” Mullin said. “There’s plenty of room for more in Center City and building it up especially in that area on North Broad Street. [The Provence] could have been a real incredible booster on that whole north side of City Hall.’ “
Tower Investments, which proposed The Provence location on North Broad Street, previously retained ESI to do an economic impact and fiscal impact study on its proposed casino at the North Broad Street site.
Click here to read the article.