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Missouri Regulators Refuses to Allow Pinnacle To Replace President Casino Without a New License

The Missouri Gaming Regulators stated on August 26th, 20009 that Pinnacle Entertainment, the operator of the President Casino in St. Louis, cannot replace the aging the riverboat casino without seeking a new gambling license. Las Vegas-based Pinnacle Entertainment wants to replace the former Admiral casino boat with a brand new barge.

The sixty-year old board will no longer be allowed to carry passengers after July 2010m under a resolution the Missouri Gaming Commission approved. The decision of the Commission could free up a gambling license, the number of which state voters limited to thirteen when they passed Proposition A last year. Pinnacle Entertainment raised questions about the legality of the Missouri Gaming Commission's decision.

Pinnacle Entertainment's executive vice president and general counsel, said that they are very disappointed with gaming commission's decision that they will not allow them to replace the Admiral boat in order to solve the July 2010 certification deadline. He added that they do not believe that the commission's decision is supported by and they are currently reviewing their legal options.

President Casino has endured multiple flood-related closures, forcing it to cut its hours of business and lay off seventy-five employees last year. The gaming facility also suffered from increase gaming competition from Pinnacle's own Lumiere Place nearby and from the Casino Queen in East St. Louis, Ill.

 

Thursday, September 03 , 2009
Edward O'Connor