Rivers Casino To Aid Construction Of New Arena

Casino News - November 12th, 2009 - Written by Glen

Rivers Casino, a relatively new casino to the Pittsburgh area, has pledged $7.5 million dollars a year to aid the construction of the new arena in which the Pittsburgh Penguins will call their home.

The Consol Energy Center, a $325 million dollar arena, will receive the $7.5 million dollars every year. These payments will be made in two installments each year and last for a total of thirty years. The first payment was made in October of 2009, and was worth $2.3 million dollars. The next scheduled payment in April, setting the schedule of payments that will last until 2038.

These payments are a requirement as per the terms of their licensing, and has been enforced by the Gaming Control Board through the threat of penalties. The Consol Energy Center project had faced a possible bankruptcy, but has recovered through the implementation of revenue generated through the Rivers Casino, showing the residents of Pennsylvania that the approval of casino gaming has already aided the Pennsylvanian culture by providing the means for the new arena to be built for the Penguins, a highly revered sporting team both in Pennsylvania and indeed the rest of the nation.

Though the agreement had been made, some controversy still exists over the amount of the payments. Rivers Casino has requested a split payment with any future casino that would spring up within sixty miles, though this request has yet to be honored.

The Arena is expected to be ready in time for the 2010-2011 season, barring any unforeseen catastrophe. Unfortunately, until we see a regulatory body for the Legal USA Online Casinos, Internet gambling will not aid the funding of any local, state, or federal projects.

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