Agenda

Thursday, July 24, 2008 at 10:00 A.M.
Hearing Room No. 1, North Office Building 

Gaming Hearing 

PITG Gaming, LLC License Status and Financial Situation (Joint Application of PITG Gaming, LLC and Holdings Acquisition Co, L.P. – PGCB Dkt. No. 42028 - 7/9/08) 

The Community, Economic and Recreational Development Committee will be hearing testimony related to the status of the PITG Gaming, LLC slot machine license and its finances.  Specifically, the Committee is interested in gathering information and developing a thorough understanding of the circumstances surrounding the Joint Application of PITG Gaming, LLC (PITG – Don H. Barden) and Holdings Acquisition Co, L.P. (Holdings – Neil G. Bluhm) for approval of the reorganization, change of control and recapitalization of PITG and other relief in connection therein (PGCB Dkt. No. 42028 - 7/9/08).  Furthermore, it is the intent of this Committee to ensure that this matter is fully vetted in a public environment that ensures the transparency of such proceedings. 

In order for the process to move forward in a way that will ensure the public's confidence in the PA Gaming Industry and more specifically the related licensing and regulatory process, it is necessary to ensure that the initial commitments agreed to by PITG are preserved.   It is also important that everyone fully understand the components of the joint license application and the resulting changes to the ownership structure, along with how the proposed financing arrangement came about.  There also needs to be clarity with regard to what, if any, ex parte communications took place related to the proposed joint application.  Moreover, it is essential that there be a public discussion regarding whether or not the proposed ownership changes warrant the current license being revoked and subjected to an entirely new open license application process under the provisions of the Gaming Act.  The following individuals will be present to provide testimony and insight with regard to the matters describe herein:
 

• HB 1287
• Thomas A. Decker
• Steven M. Crawford