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Ppg paints arena

The meaning of «ppg paints arena»

PPG Paints Arena is a multi-purpose indoor arena in Pittsburgh, Pennsylvania, that serves as the home of the Pittsburgh Penguins of the National Hockey League (NHL). It previously was the home of the Pittsburgh Power of the Arena Football League (AFL) from 2011 to 2014.

Construction was completed on August 1, 2010,[7] and the arena opened in time for the 2010–11 NHL season.[8] It replaced the Penguins' former arena, Civic Arena (formerly known as Mellon Arena), which was completed in 1961. A ceremonial ground-breaking was held on August 14, 2008. The arena is the first Leadership in Energy and Environmental Design (LEED) gold-certified arena in both the NHL and AFL.[9] Soon after the arena opened in 2010 it was named "Best New Major Concert Venue" in the Pollstar Concert Industry Awards and "Best NHL Arena" in the Sports Business Journal reader poll.[10][11] The arena was originally named Consol Energy Center (CEC) after Consol Energy purchased the naming rights in December 2008. The current name comes from Pittsburgh-based PPG Industries, who purchased naming rights in October 2016.[12][13]

Soon after buying the Penguins in 1999, Mario Lemieux began exploring a replacement for Pittsburgh Civic Arena, the oldest arena in the NHL (built in 1961).[14] In an attempt not to use public funding, the Penguins filed for a slots license under the Pennsylvania Gaming Control Board. The Penguins were granted the license, though the decision of which casino company would receive approval was the Gaming Control Board's decision.[15] The Lemieux Group reached an agreement with Isle of Capri Casinos, which offered to fully fund a US$290 million arena, if Capri could also construct a $500 million casino nearby.[15] Other casinos, including Majestic Star Casino and Forest City Enterprises, also agreed to partially contribute to the arena's funding.[16] On December 20, 2006, the Gaming Control Board awarded the license to Majestic Star Casino, who agreed to pay $7.5 million for the first 30 years,[17] in addition to the Penguins paying $4 million per year.[18][19] The casino experienced financial difficulty, which could have led to taxpayers financing the entire project. However, on August 14, 2008, the Pennsylvania Gaming Control Board selected Neil Bluhm to take ownership of the casinos, which pulled the casinos out of risk of bankruptcy.[20] The casino, now known as the Rivers Casino, eventually opened on August 9, 2009, in the North Side Chateau neighborhood.

The arena's funding plan was agreed upon by Lemieux, Pittsburgh mayor Luke Ravenstahl, and Pennsylvania governor Ed Rendell on March 13, 2007, after much negotiation.[21] During negotiations, the Penguins explored moving the franchise to Kansas City or Las Vegas (the latter of which received an NHL expansion team in 2017); after the deal was made the Penguins agreed to stay in Pittsburgh for at least 30 more years.[21] Lemieux later stated that relocating the franchise was never a possibility, but instead it was a negotiation tactic to help the team get funding for the arena from both state and local officials.[22] The arena was originally scheduled to open for the 2009–10 NHL season; however, this was pushed back to the 2010–11 NHL season.[23][24] The arena was expected to cost approximately $290 million, but rose to $321 million due to increased cost of steel and insurance.[25][26] The Penguins agreed to pay $3.8 million per year toward construction, with an additional $400,000 per year toward capital improvements.[21] After $31 million cost rise, the Penguins pledged an additional $15.5 million, while the State and Sports and Exhibition Authority split the difference.[25][26] In September 2009, the State contributed an additional $5.08 million from the "Pennsylvania Gaming Economic Development and Tourism Fund" to cover a rising "interest on variable rate bonds".[27]

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