Isle of Capri Planning for Slot Machines

The Isle of Capri is making plans for when they win the slot machine license in Pittsburgh. They are vying against two other companies for the casino, and they are taking steps to be prepared just in case they are awarded it. They are making plans to build a temporary slot machine casino that they can use while the permanent structure is being completed.

They agreed earlier this year to pay $5.2 million to the Pittsburgh Urban Redevelopment authority (URA) for four properties. Two of the locations would be on Fifth Avenue and two of them would be on Colwell Street. This relies on them being awarded the slot machine license, but if they do get it they need to know where it would go. They need all four of the properties to build the slot machine casino.

The temporary facility would be located in what is known as the Melody Tent site, a upper parking garage at the Mellon Arena. If approved, they would rent that space for the temporary slot machine casino for a period of up to two years. They would pay the city $1.3 million a year in rent for that site. The URA received an upfront payment on the $5.2 million of $180,000 for the Isle of Capri holding the option of the land. If they are not awarded the slot machine license, the URA keeps the down payment and no further monies are owed.

The other two companies trying to get the slot machine license are PITG Gaming, who is making plans to build their casino on the North Shore, and is also planning on a temporary slot machine casino. Forest City is the last company trying for the slot machine license, and although they are not planning on a temporary casino, they do know that they would like to build their permanent location at Station Square.

Back to November Archive or Slot Machines