Penguins'
Slots Partner Settles Missouri Casino Suit
As reported by the Pittsburgh
Business Times: "The casino company that
has proposed partnering with the Penguins to
build a casino and new hockey arena in Pittsburgh
has agreed to pay millions to settle a lawsuit
related to a failed casino project in Missouri.
"Biloxi,
Miss.-based Isle of Capri Casinos Inc. agreed
on Dec. 9 to pay $14 million to Jefferson County,
Mo., to settle a three year-old lawsuit stemming
from the failure by Isle of Capri to build a
casino in Kimmswick, Mo.
"A
company official said this week that site issues
relating to traffic flow, coupled with strong
community opposition to building the casino
in Kimmswick, convinced Isle of Capri to abandon
the project.
"...On
Dec. 21, the company announced an agreement
to partner with the Penguins and Columbus, Ohio-based
Nationwide Realty Investors to build a $1 billion
residential, retail and entertainment complex
that would include a $290 million hockey arena
paid for with revenue from a slots casino. The
deal is contingent on Isle of Capri winning
the right to purchase a $50 million slot license
to build a casino in Pittsburgh..."
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