Developers are proposing to transform the vacant Lord & Taylor department store at The Mall at Rockingham Park into a high-end casino. The project is spearheaded by local real estate magnates Joe Faro and Sal Lupoli in collaboration with The Cordish Companies.
The Live! Casino Salem project would occupy approximately 159,000 square feet, with plans to inject a blend of gaming, dining, and entertainment into the former retail space.
According to the proposal, the first floor will be dedicated to gaming activities and restaurants, featuring 60,000 square feet of space. Visitors can expect to find over 900 historic horse racing machines and more than 40 table games, including poker.
The second floor will house a ballroom, a sports lounge, golf simulators, and additional dining venues, while the third floor will be reserved for administrative uses.
The $160 million development project is poised to create over 700 permanent jobs, boosting the local economy. The developers project that the casino will generate around $31 million annually in gaming tax revenue and contribute more than $121.1 million to local charities within its first decade of operation.
The new casino will join a growing list of gambling establishments in New Hampshire, following the trend of converting former department stores into gaming venues. The Nash Casino, a similar project converting the old Sears space at the Pheasant Lane Mall in Nashua, is expected to open later this winter.
Joe Faro, known for his development of the adjacent Tuscan Village, and Sal Lupoli, recognized for his real estate holdings, are collaborating with Baltimore-based developer The Cordish Companies on the Salem project.
The development team is seeking a conditional use permit from the Salem Planning Board, scheduled to review the plans on September 24. The permit request includes a modification to the existing parking requirements, a necessary step to accommodate the new casino’s expected influx of visitors.
The former Lord & Taylor location, which has remained empty since the store’s closure in 2020, presents an opportunity for redevelopment. Andy Levy, a retail leasing broker, highlighted the strategic advantages of the site. “It’s a really good use,” Levy said, pointing out the location’s benefits such as ample parking and its integration with the surrounding commercial infrastructure.
The project is expected to provide a built-in customer base of both mall shoppers and visitors to the Tuscan Village. Charitable gaming is a key component of the proposed casino’s operation. Under New Hampshire’s zoning ordinance, charitable betting on games of chance such as poker, blackjack, and roulette is permitted.
Planning Director Jacob LaFontaine noted that previous attempts to introduce casinos in the area had not succeeded. However, the current proposal reflects a renewed effort to capitalize on the potential of the vacant retail space. If approved, Live! Casino Salem anticipates its first phase opening in 2025, according to the application.
Original article: https://www.yogonet.com/international/noticias/2024/09/16/78781-massachusetts-salem-mall-could-see-cordish-casino-project-as-developers-unveil-plans
