Pittsburgh
License Race Heats Up
As reported by the Pittsburgh
Post-Gazette: "Faced with a competitor's
pledge to provide $290 million for a new arena
in Pittsburgh, Forest City Enterprises fired
back yesterday, claiming its Station Square
casino would generate the most tax revenue for
the state and the city.
"In
a letter to Mayor Bob O'Connor and Allegheny
County Chief Executive Dan Onorato, Forest City
Director Brian Ratner estimated that the casino,
to be operated by Harrah's Entertainment Inc.,
would produce at least $117 million more a year
in state and local taxes than two competitors.
"He
said the $512 million casino would generate
$347.1 million in state gaming taxes and city,
county and school property taxes. That compares
with $229.5 million for the North Shore casino
proposed by Detroit businessman Don Barden and
$227.3 million for Isle of Capri's proposed
casino near Mellon Arena.
"…The
claims were immediately disputed by the two
challengers.
"Mr.
Barden described the Forest City estimates as
a 'public relations ploy' designed to defuse
talk surrounding a new arena.
"…David
Morehouse, a consultant for the Penguins, who
are teaming with Isle of Capri Casinos Inc.,
said the proposed $617.7 million in yearly slots
revenue estimated by Forest City by the casino's
second year is far above the estimate of $313
million a year provided by a state consultant
for the Pittsburgh casino…" |
