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PENGUINS, ISLE OF CAPRI CASINOS PLEDGE TO DONATE DEVELOPMENT PROFITS TO HILL DISTRICT COMMUNITY

Thursday, 03.02.2006 / 12:00 AM / Pittsburgh Penguins
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PENGUINS, ISLE OF CAPRI CASINOS PLEDGE TO DONATE DEVELOPMENT PROFITS TO HILL DISTRICT COMMUNITY

It was previously announced that if Isle of Capri Casinos, Inc. is successful in winning the Pittsburgh slots license, the company will donate $1 million per year to the Pittsburgh First Foundation for community development in the Hill District.

In addition, Pittsburgh First announced Thursday that the Pittsburgh Penguins and Isle of Capri will donate their share of any redevelopment profits to the nonprofit Pittsburgh First Foundation, for use in continued community development in the Hill District.

“Under normal circumstances, both the Penguins and Isle of Capri, as partners in the development of the 28 acres where the Mellon Arena currently stands, would stand to earn profits from that development,” said Rev. James Simms of Pittsburgh First. “However, both the Penguins and Isle of Capri have pledged that they will agree to forego those profits and pledge them directly to our nonprofit foundation for community development in the Hill District.

“This is another example of how this project will provide a direct benefit to the community, and put Pittsburgh first.”

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