On March 26, 2007, a developer from Squirrel Hill was considering slot machines as one of the options to replace the closed Palace Inn Hotel. Craig Cozza, President of Cozza Enterprises, commented that he had been discussing the option of applying for a gambling license to the Pennsylvania Gaming Control Board.
He also said that the establishment looks like a casino, similar to the way that they constructed buildings back in 1972. However, Cozza did not join the hearing set the Pennsylvania Gaming Board that was scheduled on Tuesday, March 27, 2007. Cozza said that while he is not dismissing the possibility of a slots casino, he is still entertaining other possibilities for the area like a water resort, big retailers or even a combination of retail and hotel facility.
Cozza said that with Westinghouse Electric Company, owned Toshiba, planning on moving out of the Monroeville area the year 2010, a hotel in the area may not be the best option.
The Palace Inn establishment was built and opened in 1973 Mr. Al Monzo, who died in 2000 and left the Palace Inn to his wife Daisy Monzo and their family. The Monzo family sold the area, which is around 178,000 sq ft, because they found it difficult to meet the expenses of the establishment.
Cozza brought the business in September 2006 for about $7.58 million, almost 2 years after the Palace Inn closed down their business. The establishment was well known for a variety of entertainment offerings like nightclubs, boxing, ballroom dancing, a wedding destination as well as receptions.