The Missouri Gaming Commission today voted unanimously (4-0) and without debate to take steps to revoke the licence of the President Casino. Pinnacle Entertainment, based in Las Vegas, has described the decision as ‘outrageous’ and is studying its options. The company could request a public meeting within 30 days and the St Louis mayor and some Missouri legislators have criticized the Commission.

Missouri law allows just 13 casinos in the state and it is believed there would be several applications made for the licence if Pinnacle loses it. The Commission defends its position by saying the casino vessel has been underperforming with a 50% reduction in gaming revenue. The casino has definitely become run-down and Pinnacle states that it has been prevented from repairing the riverboat or moving it to boost revenue.

Over the past year the President Casino has been closed at times with problems from flooding and has produced the lowest results of the six St Louis area casinos. The President was one of the first casinos to be opened in Missouri after casino gambling was legalized in 1993. It is now overshadowed by Pinnacle’s Lumiere Place, which opened in December 2007 close to the Preident. If the Commission is successful operations could cease on 1 July. (E-01.27.10)

© Copyright 2009 CasinoCompendium



>>> return to archives
>>> return to frontpage