Harrah's Entertainment and Forest City Enterprises Partner Up for Pittsburgh Casino
30 December 2005
Harrah's Entertainment, Inc., and Forest City Enterprises, a $7.4 billion NYSE-listed national real estate firm, have partnered up in order to seek a license to develop a casino facility in Pittsburgh, Pennsylvania. The two companies have already filed their casino application with the state Gaming Control Board. Under the agreement between Forest City and Harrah's, the real estate company will own the new facility and the gaming operator will construct and manage it.
The proposal introduced by the two companies pushes for the construction of a casino at Station Square. Albert Ratner, Co-chairman of the Board, Forest City Enterprises, said that “Station Square is the right site for a variety of reasons. The property there is ready to go, which will save time and bring revenues to our City and State more quickly. Station Square is already a successful tourist destination, drawing more people than any place in Western Pennsylvania. It is Pittsburgh's place to play and the ideal location for a casino.”
Charles L. Atwood, CEO of Harrah's Entertainment, Inc., was quoted as saying, “We believe our proposal will be found to be superior because of our gaming-entertainment expertise, our industry-leading loyalty program, and our ability to deliver an exciting branded guest experience. We recognize the entrance of gaming to Pittsburgh is important, and believe the Forest City-Harrah's team offers the best of both worlds -- a proven record of success in gaming and a highly-regarded real estate developer who is actively involved in the Pittsburgh community."
Source: Authorized Online Casinos News Staff
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