Developer Threatens To Walk From Casino Project In Pittsburgh

The casino that is planned for the North Shore in Pittsburgh, Pennsylvania is becoming one big mess. The project has been on the shelf for a while now, and if a decision on a change of ownership is not approved soon it could be a long time before the project is complete.

Developer Don Barden won the rights to the license for the casino last year, but has since failed to secure the necessary financing to finish building the casino. Enter Neil Bluhm.

The billionaire has agreed to take over control and ownership of the casino from Barden. Before that can happen, the state must approve the change of ownership. As of now, they have not.

Bluhm was testifying before the state's Senate community and has voiced his displeasure that he has not already been approved. He claims if there is no approval by Wednesday, that the cost of finishing the project could rise dramatically.

He also has now stated that if he is not approved soon, he may simply walk away from the whole project. "I'm doing this, because I think it makes sense. It's a good investment, and I also think it's a good thing for the Commonwealth and the city.

July 25, 2008
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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