Below are just a few examples of past undertakings. We led these endeavors to successful outcomes.
THE WARWICK HOTEL
In 1997 along with institutional partners we purchased the Warwick Hotel in Philadelphia’s Rittenhouse Square neighborhood. Originally constructed in 1925 and subsequent to hosting the 1960 and 1961 NFL drafts the hotel had been converted into an apartment building. Our partnership returned the property to a 600-room hotel in its English renaissance style while maintaining its listing on the National Register of Historic places. The Hotel was subsequently sold and operated as a Radisson Blu.
In 2016 through our wholly owned subsidiary Watermark Communications, we sold the last of our media assets when Bold Gold Media of Scranton Pennsylvania acquired our terrestrial radio stations WSUL 98.3 and WVOS 95.9. WVOS notably was the only station to broadcast live from the 1969 Woodstock Music Festival.
In 1996 we acquired the Monticello Raceway a harness track which opened in 1958. In 2003 we installed Video Lottery Terminals (Slot Machines) at the property. This led to our co-founding Empire Resorts Inc a publicly traded company from 2003 until 2019. We continued to be the largest shareholder of Empire until control was transferred to the Genting Group of Malaysia who subsequently took Empire private in 2019 Empire was responsible for the construction and development of the $1.2 Billion Resorts World Casino which opened its doors in February of 2018.