Barden
Enters Pittsburgh Slot Race
As reported by the Pittsburgh
Post Gazette: "Detroit businessman who
is the nation's only African-American casino
operator will join the battle for Pittsburgh's
slot machine license, with a proposal to build
a $300 million to $350 million riverfront complex
on land west of Heinz Field.
"Don
Barden, owner of five casinos, including one
in Las Vegas, confirmed yesterday that he will
bid for the city's slots rights. He is one of
at least six candidates in a field that includes
the Penguins and Station Square owner Forest
City Enterprises.
"…In
Pittsburgh, the proposed casino also would carry
the name Majestic Star. Mr. Barden will head
a group called PITG Gaming LLC. He said he would
reserve at least 19 percent of the casino ownership
for local investors.
"…Mr.
Barden explored sites in Pittsburgh and Philadelphia
for the last two years before deciding to bid
here. He said the state's $50 million slots
entry fee and the 54 percent tax rate on revenue
made developing two sites infeasible. He said
he settled on Pittsburgh because of the demographics
and the site…"
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