MTR Gaming, a prominent racetrack operator, has withdrawn its candidature for operating a slots casino in Pittsburgh, Pennsylvania. MTR is the second slots license hopeful who has dropped out of the bidding. Charles Batters, a developer from Beaver County pushing for the construction of a thoroughbred track in Pittsburgh's Hays section, backed out of the slots license competition on Monday.
In the beginning of the summer, MTR officials disclosed that they planned on assembling a group of investors to pursue Pittsburgh's future stand-alone casino license. Company CEO Edson "Ted" Arneault had announced that if he were awarded authorization to run slot machines in the city, he would allocate 2% of slots revenue, approximately $6 million annually, to assist in the construction of a new multi-functional arena for the Pittsburgh's Penguins, an NHL team.
Nevertheless, Arneault decided to give it up. One of the reasons behind the move is a statement issued by Isle of Capri Casinos, Inc. Isle officials said that, if the company is given a slots license, Isle would allocate as much as $290 for the new arena facility. Apparently, MTR found it too difficult to match such a proposal. Arneault's spokesperson was reported as saying that the CEO believed it better to focus on Presque Isle Downs, MTR's future thoroughbred track and casino in Erie.
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