Pittsburgh casino developer behind on payments
Posted on June 26th, 2008 by admin under Casino NewsPITTSBURGH - The developer of Pittsburgh’s slots casino is late in paying contractors.
The primary contractor, Dan Keating III, chairman of Philadelphia-based Keating Building Corp., blames the lateness on Don Barden’s difficulty putting together a $780 million financing package.
Keating says Barden is trustworthy, but if financing isn’t in place by Monday, work could slow or stop. Two general contractors and at least 20 subcontractors are on the project. They’re owed at least $10 million.
Barden spokesman Bob Oltmanns says it’s uncertain financing will be in place by Monday. Oltmanns says the economy is affecting all casino owners.
Barden missed a self-imposed deadline in May to have financing in place. The casino is scheduled to open next May.



Recent Comments