Isle of Capri Casinos, Inc. announced today that the company has signed a joint development agreement with the Lemieux Group LP that includes a provision for Isle to fund a new multi-purpose arena and pursue a gaming license in Pittsburgh.
“We look forward to working closely with the Penguins as well as state and local officials as we move through the application process. Redevelopment of the Lower Hill and Uptown Districts will return the neighborhood to the community, and funding a new multi-purpose arena will keep the Penguins in Pittsburgh, making this project a win/win for the entire community.’
f awarded the Pittsburgh gaming license, Isle of Capri Casinos, Inc. anticipates that the construction phase of the project would begin in early 2007, with the prospect of a temporary casino being a possibility. The transaction contemplated under the definitive agreement and development of this project are subject to certain conditions, including but not limited to, the receipt of all necessary licenses, approvals and permits.
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