Next year when a slots casino opens in Pittsburgh, the city will begin hosting a form of entertainment that will bring new crowds, extra revenue and fresh headaches. The arrival of slots will not be a panacea to Pittsburgh's financial problems, nor will it unleash a parade of horribles that will change the character of the community.

It will work out somewhere in the middle, with a net benefit, given the revenue from 14 casinos statewide that will provide relief from school property taxes. But whether in Pittsburgh the overall effect is a big plus or a little one will be determined by how the city and its casino operator respond to traffic, crime and the development opportunities posed by the site.

That last element will turn largely on which of the three Pittsburgh proposals will receive a license late this year from the state Gaming Control Board. We believe the best deal is the one offered by the Isle of Capri and its partner, the Pittsburgh Penguins.

The casino operator is teamed with the hockey franchise and Nationwide Realty Investors of Columbus, Ohio, on a $1 billion project that would produce not only a slots casino between Fifth and Centre avenues but also a privately funded, publicly owned arena and a neighborhood development package that would connect the lower Hill District to Downtown.

With $1.1 billion in annual revenues from 15 gambling sites in the United States, Europe and the Bahamas, Isle of Capri is a successful gambling company that chooses its locations carefully. That's why the firm is confident enough to pay out the $290 million for arena construction before the casino opens -- the first $15 million within five days after the company gets a license and the remaining $275 million within 90 days.

The ambitious neighborhood development, which has been sought in one form or another for decades, would proceed after the new civic center opens and the old arena is demolished in 2009. The $400 million remake would have office, retail and residential space and fill in what has been a lonely asphalt void between the Golden Triangle and an improving community of homes.

The casino plans by competitors Harrah's/Forest City at Station Square and PITG Gaming on the North Shore promise their own benefits.

Harrah's, the premier name in gaming, and Forest City Enterprises would install their own $1 billion package between the Monongahela River and the foot of Mount Washington -- casino, hotel expansion and a mixed-use residential and entertainment community. The developers would also create a $25 million endowment to support the programs of the Pittsburgh History & Landmarks Foundation and give more than $1 million a year to a foundation to help Pittsburgh.

Those are good community initiatives and Station Square is already a destination, but we're concerned about the site's squeezed location, Harrah's unusually high casino projections and the public being left to fund the replacement of its aging arena.

The third bidder is Detroit businessman Don Barden, who runs five casinos. His firm, PITG Gaming, would build a $375 million to $425 million riverfront facility on the North Shore between the Carnegie Science Center and the West End Bridge. He faces opposition from two North Shore neighbors, Equitable Resources, which has a headquarters next to PNC Park, and Continental Real Estate, which is trying to develop nearby properties. Mr. Barden has said he'd be willing to negotiate on "contributing substantial funding" if the gaming board rules that it's legal under the slots law to help build an arena.

The Isle of Capri plan would not only complete an arena with private dollars but also fill in a glaring vacancy for more Downtown living. Even if the other two casino plans come up with a revenue stream to build a new arena, they are not about to restore the neighborhood that once flourished below the lower Hill. This is a unique benefit to Pittsburgh, one that should not be overlooked.

Should the Isle of Capri win a license, we hope the partnership will pay closer attention to traffic issues -- because although we like the project's proximity to Downtown and the fact that the arena and the casino may have a symbiotic relationship, patrons will stay away if they have poor access. That caution aside, the Post-Gazette believes the best bet for Pittsburgh is the casino that will build a new arena and develop a new neighborhood next to Downtown.