Gambling.co.uk: Gambling News Archive

Halted work on Pittsburgh casino a 'temporary setback'

Wednesday 2nd July 2008

The construction of Pittsburgh's Majestic Star Casino has come to a halt for roughly two weeks until one of the contractors is paid the $10 million (£5 million) he is owed.

Bob Oltmanns, a spokesman for the developer Don Barden, stated that despite the slight delay in the work, funding had been secured from Walton Street Capital, which could be used to pay the contractors.

He also made assurances that the opening of the casino in May 2009 would not be delayed by the halt in work.

The investment from Walton Street is a replacement for the Apollo Global Management's bridge loan that was never finalised, according to Oltmanns.

Mayor Luke Ravenstahl told Pittsburgh Business Times: "[Don Barden] has assured me that he is on track for a casino opening in May 2009. We all anticipate that Mr Barden will stand by his commitments to Pittsburgh."

The new casino will feature over 100,000 sq ft of gaming floor and will have five first-class restaurants, as well as four casino bars and lounges.





Source: Gambling.co.uk News