As the time draws nearer in which Pittsburgh gaming officials pick who will
be given the highly sought gambling license to operate a new casino, costs are
starting to grow pretty steep. As of now, there are three companies
competing for the license, with the cheapest proposal coming in at $375 million.
The three establishments are all recognized names
in the casino gambling community, including Harrah's, Isle of Capri and the
Detroit businessman, Don Barden, who is predicting that his proposed North Shore
Casino will draw over $230 million in tax revenue per year, with over $20
million a year going to Pittsburg alone.
Harrah's, whose proposal is the most expensive at
$512 million, estimates their casino will bring in $550 million a year, thus
generating over $270 million in tax revenue for the state. As for Isle of
Capri, they think they can bring in about $400 million per year. And as
for the cost to build their site, it is marginally between the North Shore and
Harrah's bid.
Despite the fact that all three of the proposals
look comparable to the best that Atlantic City and Vegas have to offer, much of
the cost can be attributed to the cost of the license, which is $50 million, and
the overhead for bringing in thousands of slot machines, estimated at $15,000
each.
As for trying to get the attention of Pennsylvania
gaming officials, the casino operators are not holding back at all with the
creativity of their proposals. Taking inspiration from the Wynn, one
casino's reception area will be stocked with live trees, as well as a two-story
bar in the heart of the casino lobby. Another casino is making plans for a
three-story glass atrium. All in all, it seems that all three proposals
have a very tropical theme to them - something which Pittsburgh residents
definitely do not get too much of.
In addition to all the hoopla of entertainment,
casino gambling, fine dining and resort accommodations, all three casinos have
been promising to help develop residential and office communities, complete with
condos and retail stores.
