Saturday, December 23, 2006

When does Barden send the check?

Hard to believe there are other casino related topics to talk about. Yet, 90% of the post-decision discussion has been so narrowly focused that I suspect 90% of the important things have not been talked about at all.

Here is a question? Majestic Star was the one venue that did not propose building a temporary casino site to open in 2007. Even on an accelerated construction schedule, it just can't open up until 2008. I think he is on record as saying the casino could open 14 months from now which seems awfully optimistic. 18 months seems a lot more realistic if not longer. A temporary facility would clearly have required payment of mandated fees/taxes to state and city governments in 2007. Without that temporary facility, will those intitial and ongoing fees be deferred until the site opens sometime in 2008? How much did the city budget have as a placeholder specifically for anticipated casino-related revenue? $17 mil give or take I do believe. Whether the state will fill the gap in the meantime is a real question.

Also on the read board: the Charlston Daily Mail has more on the West Virginia perspective on what the dawn of Pennsylvania gaming means for them.

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