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Majestic Star Casino Surrounded By Financial Questions

Construction Continues On Casino

POSTED: 3:59 pm EDT April 23, 2008
UPDATED: 5:13 pm EDT April 23, 2008

Construction continues on Don Barden's Majestic Star Casino. But some question his financial stability.

One issue is Barden asking the gaming board to withdraw his $3 million commitment to Hill District redevelopment.

Allegheny County Executive Dan Onorato said Barden is not backing out on the investment, just the location since development rights now belong to the Penguins in the new arena deal.

Onorato said, “That $3 million will be spent somewhere. We've got to figure out where and announce it publicly what exactly we are doing with it, what he is doing with it, the contingency with it, and people won't be guessing what's going on."

Onorato has been in contact with Barden's office and a meeting is planned possibly later this week, something City Council President Doug Shields welcomes.

Shields said, “We need to hear his rationale and we need to have a consensus on what's best to do and the $3 million is committed to or is still on the table."

Also at issue is Barden's ability to continue to finance the project since his other casinos are losing money.

Onorato said the uniqueness of the Pittsburgh casino license assures its financing.

Onorato said, “It's a stand alone license and entity. There are backers willing to come in because of the value of that license. It's the only one in Pittsburgh and it's very valuable because of that monopoly."



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