We have known for a while the Cordish Companies, developers behind 4th Street Live! and the proposed City Center project, have been eyeing the casino gaming market. The Baltimore-based company already runs several casinos including one near Indianapolis we told you about way back in June. Now the development company is looking to expand their gaming capability with the possible purchase of Tropicana Casino & Resort in Atlantic City for $700 million.
The Tropicana has been in financial trouble and the Cordish Companies believes it can turn the property around. A spokesman claims the move demonstrates the strength of the company overall.
What does this mean for Louisville? The expanded emphasis on gaming in projects undertaken by the Cordish Companies could potentially alter the face of the City Center proposal near 4th Street Live! With the issue of legalized gaming in Kentucky expected to arise again in the next General Assembly, Cordish could have a lot at stake if the state were to allow casinos in Louisville.
City Center is still in its schematic design phase and nothing has been set; property for the project is still left to be acquired. With the timeline stretching out a potential ten years, could the City Center suddenly sprout a Hard Rock Casino, a gaming brand Cordish is experienced with? Only time and Kentucky politics will tell, but it appears Cordish is finding money to be made in the gaming industry and downtown Louisville could fit into their game.
- Cordish Opens Indiana Casino (Broken Sidewalk)
- Cordish offers $700 million for Tropicana (C-J)
- Cordish Co. in talks to buy Atlantic City’s Tropicana casino for $700M (Business First)