Rivers Casino Pittsburgh cut another check for PPG Paints Arena on Thursday. Like clockwork.
This one came to $4.7 million, paid Oct. 1 to the Sports & Exhibition Authority of Pittsburgh and Allegheny County (SEA). That brings the casino’s total toward the arena’s construction to $132.2 million. Twice a year, every year. And it will keep going until 2038.
Rivers Casino pays the SEA $7.5 million a year toward the arena’s construction debt financing. That’s split into two installments, one every October and one every April. The next is due April 1, 2027.
The agreement calls for $225 million in total by 2038. The arena, home of the Pittsburgh Penguins, was finished in 2010, a year after Rivers opened on the North Shore in August 2009.
