Pittsburgh Applicants Commit to Arena Funding
As reported by the Pittsburgh Business Times: "Two applicants for Pittsburgh's lone casino license joined Isle of Capri Casinos Inc. in committing in writing to contribute to building a new arena for the Penguins, Allegheny County chief executive Dan Onorato said Thursday. "Forest City Enterprises, which wants to build a casino at Station Square on Pittsburgh's South Side, and Don Barden's PITG Gaming LLC, which has plans for the North Shore, agreed to make 30 annual, $7.5 million payments to go toward building an arena for the NHL team if they win the slots license. "Those groups joined Isle of Capri, which pledged $290 million toward the arena if it wins the license for its plan to build a casino, hockey arena and residential development in Pittsburgh's Hill District."
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