In an attempt to persuade voters in St. Tammany Parish, Louisiana, to vote for a casino on November 13, Peninsula Pacific Entertainment gave a check for $100,000 to St. Tammany Corp., the parish’s economic development agency.
Earlier the developer announced it would pay the full $35 million it promised for a sports complex as soon as ground is broken on the $325 million casino, to be located near the foot of the Interstate 10 twin span bridges over Lake Pontchartrain.
St. Tammany Corp. Chief Executive Officer Chris Masingill said getting the $100,000 early will allow the agency to immediately hire a technical consultant for the sports complex. Masingill stated requests for proposals on a study of the sports complex study will go out at the end of the month. He noted having a sports complex will allow St. Tammany to get involved in the $8 billion-a-year youth sports industry.
Meanwhile, more local government leaders in St. Tammany are going on record opposing the casino, including Mandeville Mayor Clay Madden, Slidell Mayor Greg Cromer and the Slidell city council.
In June, officials at the St. Tammany Corp. and the casino developers signed an agreement, including $35 million to build the facility, to be paid out over several years. It also included $100,000 for the development plan and money for operations. An annual share of 7 percent of the forecasted $7.5 million to $9 million in gaming revenue will be divided among local governments and entities.
P2E Chief Executive Officer Brent Stevens said he has heard casino critics’ concerns about whether the project will be guaranteed. He said that led to the decision to make the $35 million available when ground is broken for the casino. “It is certain. We are here today to start,” he said.
