In July 2012, the Board opened a new round of applications for the second Philadelphia casino license.
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The license remained in limbo for two years as Foxwoods unsuccessfully appealed the decision, and legislators then debated putting the license up for statewide bid. The Pennsylvania Gaming Control Board awarded those two licenses to SugarHouse Casino and Foxwoods Casino Philadelphia, but Foxwoods failed to obtain financing for its construction, and its license was revoked in 2010. 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 was planned to incorporate an existing Holiday Inn hotel in the city's stadium district.
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