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If there were ever a time to bet on the Canes—and PNC Arena—it’s now. Beyond making their fifth appearance in the Eastern Conference Finals and selling out 31 of 41 regular season games (ranking top five in league fan attendance), now the ink is dry on a bill legalizing sports betting in NC that changes everything—for the arena, and the district as a whole.
Especially because the Canes are here to stay. Post their Playoffs run, Canes President and GM Don Waddell announced a 20-year lease extension with PNC Arena in the works—signing as soon as late July to mid-August.
Once signed, the Centennial Authority board will approve selects from some 70 ideas on the table to reenergize the property, according to Jeff Merritt, executive director of the Centennial Authority. Not to mention Wake County is slated to distribute funds from the interlocal agreement this summer—which levies revenue from hotels and food/beverage taxes to support arts, culture, sports and convention facilities.
Add to that the legalization of sports betting—and “we will now have the opportunity to build a world-class sports-wagering facility to expand the entertainment options around PNC Arena,” Waddell said in a statement posted to the Canes’ Twitter account. “Our plans also include a restaurant and bar available to fans every day, helping to spur additional development in and around the arena district.”
Adds Merritt: “It will provide a revenue stream to the hockey team that doesn’t currently exist.” … And the timing could not be more perfect. Stay tuned.
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