An update on the casino hearings from Sandy Shea, editor of the Daily News editorial pages:
So, how was the questioning of first applicant SugarHouse? "I guess the word would be: softball," Sandy said.
One investor recused himself from the SugarHouse deal, though it wasn't made clear why. Other than that, the questions were pretty general. Sandy said they were similar to -- though this isn't a direct quote -- "what would you do if the community objected to the slots parlor?"
The second hearing, of Riverwalk, was more charged. This is the Planet Hollywood-associated group, and they brought star power: Videos from Sly Stallone and Bruce Willis, who promise to visit the casino a lot if it gets built (!). Sly said he'd build a house in Philly and visit a lot. (!!).
The questions for Riverwalk dealt mostly with the structure of the deal. The local group -- which includes PR exec Bill Miller and other investors -- only put up $1.5 million of the financing but have a 51 percent, controlling interest in the casino.
Also, Riverwalk has said they have another site for the temporary casino -- which would be up in about 15 months, as the board has said it prefers -- or, they propose, they would skip the temporary step altogether and build the whole thing in 24 months.
We'll keep you posted.
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