The group headed by Chicago billionaire Neil Bluhm is estimating that the North Shore casino he wants to take over will generate $427.8 million in revenue during its first year of operation, about $65 million more than the Pennsylvania State Gaming Board is predicting.

However, the estimates of Pittsburgh Gaming Holdings, the group formed by Mr. Bluhm to bail out the financially troubled casino, are lower than gaming board financial suitability task force estimates for the slots parlor's next four years of operation. By year five, Pittsburgh Gaming is predicting that revenues will be almost $100 million less -- $507.4 million compared with the gaming board's figure of $611.6 million, based on 5,000 slot machines.

The revenue estimates were released on the gaming board Web site this morning.

Pittsburgh Gaming is estimating average slot machine wins of $361 a day in the first year, based on an average of 3,250 slot machines. The gaming board estimated an average win of $306 a day, based on the same number of machines.

It was not immediately known why the two estimates varied so greatly. The gaming board said in a footnote that all of the estimates were based on 2009 dollars.

The higher estimated revenues in the first year could help Mr. Bluhm's group with Wall Street and in its financing. Rating agencies had expressed concern about the amount of debt involved in the $800 million project and whether the casino would be able to generate enough revenue early on to meet its obligations. As part of its takeover, Mr. Bluhm's group is planning to invest $170 million in equity in the project. Don Barden, who was unable to secure financing, was planning to borrow virtually all of the money for the casino's construction.

The gaming board's financial suitability task force had estimated in 2006 that the Pittsburgh casino would generate $482.8 million in its stabilized year, but those projections were based on 2005 dollars.