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Isle of Capri eyes parking lot

PITTSBURGH, Pennsylvania – As reported by the Pittsburgh Tribune-Review: "Isle of Capri Casinos Inc. would pay the city's Urban Redevelopment Authority $1.3 million a year to use a parking lot above Mellon Arena for a temporary casino if it wins the Pittsburgh slot machine license.

"The URA board is expected to vote tomorrow on a lease agreement that would allow Isle of Capri to use the parking lot, known as the Melody Tent site, for the casino for up to two years.

"Under the terms of the lease, the authority could end up with $2.6 million in rent payments if the company uses the site for the full 24 months.

"…All payments are contingent on the awarding of the slots license to Isle of Capri, one of three bidders for the lone Pittsburgh casino. The others are Forest City Enterprises and PITG Gaming LLC…"

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