Pittsburgh
Casinos Will be Destinations
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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