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Contractor remains on Pittsburgh project31 July 2008PENNSYLVANIA -- As reported by the Pittsburgh Post-Gazette: "The primary contractor for the North Shore casino will stay on the job for now, confident that a group led by Chicago billionaire Neil Bluhm will be able to complete a deal to take over the troubled project. "Dan Keating III, chairman of Philadelphia-based Keating Building Corp., said he had the right, as of yesterday, to terminate his contract with Don Barden's company, PITG Gaming LLC, but won't do so. He said he believes that Mr. Bluhm and his group, Pittsburgh Gaming Holdings, are 'very close' to closing on their financing and getting approval from the Pennsylvania Gaming Control Board to assume control of the financially troubled casino project. "Mr. Keating said subcontractors on the project, who as of yesterday had the right to change the terms of their contracts, including possible price adjustments, agree with his position. For now, the status quo will remain, he said..." |