After a short, but serious flirtation with relocation that included visits to Kansas City and Las Vegas, the Pittsburgh Penguins and Pennsylvania and local officials announced today that they have come up with a plan to finance a $290 million arena across the street from the Penguins’ current home.

And slots revenue will end up being a big chunk of the deal. The plan calls for $4.2 million annually from the Penguins and $15 million a year in slots revenues from the state and the PITG Gaming, which won the city’s slots license. The team and the state will split any costs between $290 million and $310 million and the team will cover any expenses beyond that. The team will sign a 30-year lease to play in the building, expected to be open during the 2009-10 season.