Pittsburgh Casinos Will be Destinations

6 Feb 2006

PENNSYLVANIA – As reported by the Pittsburgh Post-Gazette: "One casino will feature a two-story bar at its core and a reception area filled with trees. The centerpiece of another will be a three-story glass atrium. A third promises visitors a tropical paradise.

"There's been a lot of talk about a new arena, residential and office developments, and condominiums and retail shops in the proposals advanced for the Pittsburgh slot machine license.

"But at the same time, the three competitors for the license are promising casinos that in themselves will be destinations, offering visitors entertainment, dining and other amenities.

"The least-expensive casino will cost at least $375 million to build, the most-expensive, Harrah's Station Square, $512 million.

"Not all of the casino estimates will go into construction. The amounts include $50 million charged by the state for the license. They also factor in the cost of slot machines, which range in price from $12,000 to $15,000 each. That could run another $40 million or so.

"With all those machines, Detroit businessman Don Barden believes his proposed North Shore casino could generate $230 million a year for the state at a tax rate of 54 percent and another $22 million for the city.

"Harrah's projects total revenue at more than $550 million, with a little more than half of that going to the state. Isle of Capri estimates total revenue at about $400 million…"

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	Pittsburgh Casinos Will be Destinations 6 Feb 2006 PENNSYLVANIA – As reported by the Pittsburgh Post-Gazette: "One casino will feature a two-story bar at its core and a reception area filled with trees. The centerpiece of another will be a three-story glass atrium. A third promises visitors a tropical paradise. "There's been a lot of talk about a new arena, residential and office developments, and condominiums and retail shops in the proposals advanced for the Pittsburgh slot machine license. "But at the same time, the three competitors for the license are promising casinos that in themselves will be destinations, offering visitors entertainment, dining and other amenities. "The least-expensive casino will cost at least $375 million to build, the most-expensive, Harrah's Station Square, $512 million. "Not all of the casino estimates will go into construction. The amounts include $50 million charged by the state for the license. They also factor in the cost of slot machines, which range in price from $12,000 to $15,000 each. That could run another $40 million or so. "With all those machines, Detroit businessman Don Barden believes his proposed North Shore casino could generate $230 million a year for the state at a tax rate of 54 percent and another $22 million for the city. "Harrah's projects total revenue at more than $550 million, with a little more than half of that going to the state. Isle of Capri estimates total revenue at about $400 million…"