Don Barden has run into trouble finding cash

Jul 15, 2008 7:00 PM

 

by Ray Poirier | Another Pittsburgh, Pennsylvania, enterprise, the Majestic Star Casino being built by Fitzgerald's hotel/casino owner Don Barden, has run into trouble finding the $780 million it needs to complete its construction.

But reportedly ready to provide some cash is real estate magnate Neil Bluhm. He and his partners reportedly have offered Barden some $120 million. The money will buy the Pennsylvania investors control of the project with Barden retaining a 25% interest, according to media reports.

The move might complicate the situation for the Pennsylvania Gaming Control Board since Bluhm is an investor in SugarHouse Casino, a project being planned for the Philadelphia area.