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Magnate Ups Ante for Pennsylvania Gambling License

PITTSBURGH, Pennsylvania – As reported by the Pittsburgh Post-Gazette: "Pittsburgh parking magnate Merrill Stabile is upping the ante in his bid to secure a state gambling license to build a $200 million slots casino and entertainment complex on the North Shore.

"Stabile said he is willing to build a 1,240-space parking garage with a light rail transit stop for the city-county Sports & Exhibition Authority as part of his plans for the complex to be located near PNC Park.

"In an interview yesterday, Stabile also said he intends to donate a portion of the casino's gambling revenues to selected community assets each year. He said one recipient would be the city parks.

"…Under the proposal, Stabile is offering to build the structure if he secures a gambling license and the financing for the garage is not in place by then. The first permanent casino licenses probably will not be awarded until fall 2006.

"…Stabile's promise to build the garage, considered a key piece of the North Shore development efforts, and to direct a portion of gambling revenues to community assets appear to be designed to strengthen his bid for the lucrative stand-alone slots license in Pittsburgh…"

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