In 2004, Pennsylvania legalized casinos, authorizing up to 14 gaming licenses to be issued statewide, with two of them allocated to stand-alone casinos to be built in Philadelphia. In 1993, it was purchased by an investment group led by former Philadelphia Eagles quarterback Ron Jaworski, and became a Holiday Inn.
Colonial collapsed in the early 1990s, causing the hotel to go into bankruptcy again and lose its franchise agreement with Hilton, after which it was renamed as the Philadelphia Court Hotel. In 1985, it was acquired by Connecticut-based Colonial Real Estate. Ceritano put the hotel into bankruptcy the following year and was forced out. In 1976, local wine distributor Armand Ceritano acquired a controlling stake in the hotel, which had operated at a steep loss and was facing foreclosure. at a cost of $7 million, and opened in 1974 as the Philadelphia Hilton Inn. The hotel was built by a group led by Bankers Securities Corp. The casino is planned to incorporate an existing Holiday Inn hotel in the city's stadium district. Cordish also operates Xfinity Live! Philadelphia nearby. It is being developed by The Cordish Companies. It is planned to have 240 hotel rooms, 2,000 slot machines, and 125 table games.
Live! Hotel and Casino Philadelphia is a planned casino in Philadelphia, Pennsylvania, expected to open in 2021.
