Two Senators Trying To Stop Barden Refinancing Plan For Casino

Don Barden has been treading on shallow water for a long time in Pittsburgh, and he is now starting to accumulate enemies. That is not a good position for him to be in when he is waiting approval of a refinancing plan for his casino project.

Two Pittsburgh area Senators are asking the state Gaming Control Board to not rush into a decision on the refinancing plan. They are seeking that the license issued to Barden be revoked and that it is once again opened up to new applicants.

They claim that the casino license issued to him was under his original proposal, and that due to his current financial problems that the original agreement, "is no longer financially viable. The proper response of this board is to revoke the license issued..", and the board should, "re-open the license to a competitive process that will include new applicants."

There were two other applicants originally for the casino license in Pittsburgh. Forest City and Isle of Capri both submitted proposals before the decision was made in December of 2006 to award Barden the license.

If Senators Jane Orie and Jim Ferlo are to get their way, they will have to move quickly. Barden is finalizing his plan to refinance the casino project. Neil Bluhm, the new head of the project could ask the Gaming Control Board to approve a license transfer as soon as the end of this week.

July 15, 2008
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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