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Promises kept: Barden sticks to his commitment to the Hill
Wednesday, April 30, 2008

We're glad to see that Don Barden decided to keep his commitment to provide $3 million toward Hill District development.

Mr. Barden, who had asked the state Gaming Control Board to let him out of the deal, changed his mind and agreed to honor his pledge during a meeting with Mayor Luke Ravenstahl and Allegheny County Chief Executive Dan Onorato.

The Detroit casino owner, who is building his Majestic Star slots facility on the North Shore, argued that he should not have been forced to provide the funds because he did not win rights to develop land around Mellon Arena. However, his promise was to the people of the Hill District, and the compromise reached Monday means the money will go toward other neighborhood projects.

Fortunately, Mr. Barden's pledge to provide $7.5 million a year for 30 years toward a new arena -- a commitment that's important for a different reason -- is unchanged.

Resolution of the $3 million dispute does not put to rest all of the questions about Mr. Barden and his business. Standard & Poor's assigned a low credit rating for the Pittsburgh casino and downgraded the rating for his casino operations in Indiana, Mississippi and Colorado. Moody's Investors Service was less harsh, assigning a low rating but giving the casino a stable outlook, reflecting its confidence in the project's ultimate success.

Let's hope Mr. Barden will continue to keep the promises he made in order to win Pittsburgh's valuable casino license.

First published on April 30, 2008 at 12:00 am
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