BET founder won't count in slots bid

0 Comments | Philadelphia Inquirer, The, November, 2006 | by Jeff Shields

Pinnacle Entertainment's addition of billionaire black businessman Robert L. Johnson to its ownership group will not count in the competition for a Philadelphia casino license, state gambling regulators said yesterday. Johnson, the founder of Black Entertainment Television and owner of the NBA's Charlotte Bobcats, this week signed an agreement that would give him one-third ownership of Pinnacle's $350 gambling and entertainment complex on the Delaware River.

Pinnacle is seeking one of two slots licenses to be awarded in Philadelphia. The Pennsylvania Gaming Control Board has made it clear that minority ownership and job creation are among its priorities, and those goals are mandated in the 2004 law that authorized as many as 61,000 slot machines at 14 sites in Pennsylvania....

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