Parx casino owner buys more Bensalem properties on Street Road – phillyBurbs.com
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A Parx casino executive has confirmed that the company has postponed its plans to build a 13-story luxury hotel on the grounds of the Bensalem casino and racetrack, citing ongoing uncertainty about skills games in the state.
But that industry uncertainity hasn’t stopped Greenwood Racing Inc., the casino’s parent company, from spending tens of millions this year on other Bensalem properties near its Street Road complex, property records show.
Greenwood Racing Chief Marketing Officer Marc Oppenheimer said that construction of the original hotel project is on hold until “there is clarity on the competitive market conditions.”
“There is ongoing litigation and potential legislative action regarding so-called skill games,” Oppenheimer said. “Until there is clarity with that, we have decided not to make any very large investments in the property.”
Details about Parx hotel purchaseParx Casino not waiting to build its hotel. Instead it bought this one in Bensalem
Recently Pennsylvania’s highest court announced it will decide whether the cash-paying electronic game terminals found in bars, convenience stores and other places are unlicensed gambling machines and require them to be shut down.
In the meantime, Greenwood Racing will renovate the existing Inn at Fox Chase into a Parx hotel, the company announced this week. The renovation is not on the grand scale of the original hotel plan, which called for a spa and rooftop restaurant, but it will provide casino patrons with nearby accomodations.
The purchase of the 167-room Inn at Fox Chase is the third property that a Greenwood Racing subsidiary has bought in Bensalem this year, county property records show.
In February, Greenwood Condo Holdings purchased office buildings at 3329 and 3331 Street Road, which sit on 1.4 and 3.3 acres respectively.
Two office buildings are located less than a half mile from the Inn at Fox Chase and roughly one mile from Parx casino property, also on Street Road.
Bensalem Mayor Joseph DiGirolamo on Wednesday said he was told Greenwood plans to keep the office buildings as rental properties and there are no plans to demolish the buildings.
A Greenwood Racing spokeswoman did not respond to multiple emails sent on Tuesday and Wednesday asking about the office building purchases.
Greenwood purchased the office buildings for $12.5 million each; it has not disclosed the sale price for the hotel, located at 3327 Street Road, but a year ago it sold to IHM Bensalem LLC for $13.75 million.
A Greenwood representative said the plan is to renovate the six-story hotel, which sits on 4.75 acres, including adding 16 luxury suites on the top floor.
A shuttle service will transport guests the roughly half-mile between the hotel and casino and racetrack property.
The hotel will remain open throughout the renovation process and current reservations and group bookings will be honored, the company said. A grand reopening is scheduled for 2025.
Last year Bensalem Council gave Greenwood Racing approval to build a proposed new 300-room hotel and banquet facility that would include a walkway connecting it with the existing casino.
In recent years, Parx added the Xcite Center, bringing music, comedy acts, psychic mediums and more to Bucks County. The 30,000 square-foot entertainment venue is inside the casino.
Reporter Jo Ciavaglia can be reached at
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