Tuesday, August 19, 2008
The new owners of the Pittsburgh slots casino have finalized financing for the project. Chicago billionaire Neil Bluhm had hoped to close on the $600 million in loans Friday, a day after the Pennsylvania Gaming Control Board approved transfer of the slots license from Don Barden to Bluhm's group. Casino spokesman Dan Fee says the final details of the financing were worked out today. Fee says now Bluhm is arranging to pay the contractors and their workers who were owed $50 million. Contractors halted work on the project July 1st because they were not being paid. Fee says construction could resume this afternoon with full scale operations going by the end of the week. Fee says due to the 6 week work stoppage the casino's opening has been delayed until next August.