We congratulate Don Barden and PITG Gaming on their successful bid. Obviously, we are very disappointed that the Isle of Capri was not awarded the slots license. We want to thank them for their effort over the past year, including an unprecedented offer to fully fund construction of a new arena had they received the license.
We also want to thank the dozens of local leaders and thousands of fans and concerned citizens who voiced their support for what they believed was the best plan for our region. Had Isle of Capri been selected, it would have ensured the long-term future of the Penguins in Pittsburgh and would have delivered a $1 billion development opportunity to the Lower Hill and Uptown.
At this point, our franchise enters a period of uncertainty, with our lease at Mellon Arena set to expire this summer. We will re-evaluate all of our options before deciding on a course of action and making further comment.