Gaming board delays vote on Pgh. casino plan
PITTSBURGH — The state Gaming Control Board will wait until May 14 to vote on a Pittsburgh casino's $630 million refinancing plan.
Casino developer Don Barden wanted a decision by May 8, saying the delay could endanger his plans to refinance what had been a $450 million project.
Barden says construction delays and rising financing costs fueled by the home mortgage crisis have added $180 million to the price of the city's first slot machine casino.
Board members say they're concerned about the refinancing plan as well as Barden's misgivings about a $3 million commitment to help revitalize a blighted Pittsburgh neighborhood.
Barden says his Majestic Star Casino is still set to open in May 2009.
