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New N. Shore Casino Financier Might Walk If Project Isn't Approved Soon

Posted: 12:05 pm EDT July 24, 2008Updated: 6:40 pm EDT July 24, 2008

The developer who wants to take over control of a casino being built on Pittsburgh’s North Shore said Thursday that the project could be in jeopardy.

Neil Bluhm is one of the partners who formed Pittsburgh Gaming Holdings, and he has controlling interest of the Majestic Star Casino.

Bluhm is testifying about the casino's status before the state Senate's community, economic and recreational development committee. He said that if the state doesn’t approve his plan by Wednesday, there would be major problems.

Bluhm said that would lead to long delays and big increases in construction costs. He also noted that if the plan is not approved, he might walk away from the project altogether.

“I'm doing this, because I think it makes sense,” Bluhm said. “It's a good investment, and I also think it's a good thing for the Commonwealth and the city."

The original developer, PITG Gaming’s Don Barden, could not get financing on his own, so he sold 75 percent of his interest to Bluhm and Bluhm's partner.

The casino is scheduled to open in May 2009.

ADVANCE VIDEO:Bluhm Testifies Before A State Senate Committee

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