
Jun 30, 2008 7:53 pm US/Eastern
Casino Work Stoppage Not Expected To Last Long
PITTSBURGH (KDKA) ―
KDKA has learned work will temporarily be suspended at the construction site for the North Shore Casino while the final details of a financial deal are being worked out.
Bob Oltmanns, a spokesman for Barden, says the suspension will be brief.
"The contractor ... under the terms of the agreement with PITG Gaming has requested that we temoporarily suspend building activity here on the site for a very short period of time - again, a matter of days so that we can complete the permanent financing and get the project back on schedule," he said.
That's because of a $125 million cash infusion from Neil Bluhm, a billionaire from Chicago. He's a real estate mogul with holdings throughout the country.
But Bluhm must be approved by the Pennsylvania Gaming Commission and seems to have a conflict of interest. He's an owner of the Sugar House Casino that's in development in Philadelphia.
Still, Dan Keeting, the primary contractor, believes it's a done deal and it's full steam ahead for the Majestic Star.
"We're going to put it in suspension for a few days and give Mr. Barden the opportunity he needs to pull all this together which I believe he's going to do," Keeting said.
Now all eyes are turned to the Gaming Commission to see if they will approve the new arrangement.
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