According to WRAL reporter Brian Murphy, …
Next year, the Carolina Hurricanes will acquire a restaurant close to PNC Arena, which will serve as a sportsbook.
The president and general manager of the Hurricanes announced at the Centennial Authority meeting on Tuesday that the team’s acquisition of Backyard Bistro will be finalized by the end of the year.
Don Waddell stated that it made sense for their business.
The sportsbook for the team will be located at the facility, until renovations at PNC Arena or the surrounding areas are finished.
According to North Carolina law, the Hurricanes are permitted to have a sportsbook within a half-mile of their arena or on any adjacent property they own.
The North Carolina Lottery Commission has yet to determine a start date for the acceptance of bets through mobile sports betting and in-person sportsbooks. This will not occur before the Super Bowl on February 11.
The Hurricanes have not yet declared any affiliation with a sports betting corporation. In order for these companies to acquire a license within the state, they must establish a contract with specific leagues, venues, or teams, which includes the Hurricanes. This requirement was included in the state’s budget.
The eatery can be found on Trinity Road, directly opposite the PNC Arena and Carter-Finley Stadium complex. Its address is 1235 Hurricane Alley Way in Raleigh.
PNC’s $300-million enhancement
The PNC Arena will be receiving a $300 million renovation in the near future, following the approval of funds by city and county officials. As a condition of the agreement, the Hurricanes have committed to a long-term extension at the arena and have obtained development rights for surrounding areas.
The Centennial Authority, the building’s owner, has not yet determined which enhancements will be included in the $300 million package.
The proposal to construct additional office and storage space above the loading dock of the arena has been rejected due to high expenses. The plan included relocating existing offices to that area, which would have resulted in more available space around the building. However, the estimated cost for this project exceeded $60 million, leading the authority’s steering committee (comprised of members from the authority, NC State, and the Hurricanes) to eliminate it from consideration for potential projects.
“The cost ended up being in the range of $45 to $65 million,” stated Waddell. “I calculated that allocating 25% or less for office space and storage didn’t seem logical. Our preference is to invest the funds into the actual building.”
The chairman of the board, Philip Isley, stated that it is not financially feasible to pursue a project with a cost higher than $65 million. He also expressed that it would be difficult to justify this expense to our funding partners.
The entire board must give their approval and allocate funds for chosen projects, but Isley stated that the 21-member board does not have sufficient time to thoroughly review every proposed item, including those that are ultimately rejected.
“I’m afraid we don’t have enough time,” he stated. “We need to reach a stage where we can present something that will fit within the budget in the next four years. Currently, we are in the process of determining what is feasible, what improvements will benefit the facility, and what we can afford.”