Casinos betting on Philly International
Two casino companies hoping to become players in Philadelphia have taken a hand in underwriting the financially strapped TD Bank Philadelphia International Cycling Championship.
SugarHouse and Foxwoods Development have committed $100,000 each as part of a one-year agreement, according to Pro Cycling Tour CEO David Chauner.
“They’re excited about being part of the community,” Chauner said Friday following a press conference at TB Bank in Philadelphia, where he was joined by his Philly co-founder Jerry Calsale, Pennsylvania Gov. Edward G. Rendell, Rep. Robert Brady, D-Pa., Philadelphia Mayor Michael Nutter and Michael Carbone, metro Philadelphia market president for TD Bank.
In announcing the deal, Rendell called the International Cycling Championship “one of the most important and exciting annual sporting events in the Commonwealth and nation, as well as a unique Philadelphia treasure."
“I am thrilled and grateful that Sugarhouse and Foxwoods were able to step in to bring the race back to life this year," the governor said.
Chauner said Rendell and Brady were instrumental in bringing the casino companies to the table after a combination of lost sponsors and increased expenses left the International Cycling Championship facing a shortfall of $500,000 in its $1.7 million race budget.
The casino sponsorships slashed that deficit “enough to give us the green light to keep going,” Chauner said. "The critical mass is there."
But PCT will continue to seek additional sponsorship for this year and beyond while pushing its “Embrace the Race” campaign, which has brought in about $85,000 in sales of VIP tickets, posters and stickers, and donations.
“The most important thing we are looking for is multi-year sponsors starting in 2010,” said Chauner, who added that this is the first time in 24 years that the race has lacked such long-term support while having to pay the full cost of city services such as police support and trash cleanup, estimated at a quarter-million dollars.
Brady, too, emphasized that "we cannot get to this point again next year."
"We need people and companies to start talking now about how to keep this important Philadelphia event rolling for many years to come," he said.
Noting that an economic survey from 2005 estimated that the event returns some $22 million to Philadelphia in goods and services purchased, Chauner said: “The real plus for us is that the race has become so much a part of the community. At the thought of losing it everybody stepped up.”
Bob Sheldon, president and COO of Sugarhouse Casino, said he understood the value of the event to Philadelphia “and to all of the athletes who have competed here over the years.
“We have always said that we intend to be a good neighbor and corporate citizen to Philadelphia, and we hope our support of this event is a real example of that,” he added.
The 25th edition of the 156-mile American classic is slated to run June 7. The day also includes the 57.6-mile Liberty Classic for women, run during the men’s race on the same course.
Matti Breschel (CSC) won last year's men’s race, while Chantal Beltman (Highroad) took the women’s event.
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