2010-03-11
Decision to close St. Louis' President casino opens way for new bids for license
(United States).- The closing of the oldest casino in St. Louis leaves a valuable gambling license up for grabs in Missouri.
Pinnacle Entertainment and the Missouri Gaming Commission reached agreement Wednesday to close the President Casino near the Gateway Arch by July 1. The decision ends months of wrangling between Pinnacle and the commission, which wanted to shut down the aging riverboat.
Missouri caps the number of gambling licenses at 13, and the 13th casino opened March 4 when Pinnacle's River City Casino debuted in south St. Louis County. So there is expected to be much competition for the license being vacated by the President's closing.
It won't have to go to a casino in St. Louis, but state law only allows casinos on the Missouri or Mississippi rivers.
Missouri caps the number of gambling licenses at 13, and the 13th casino opened March 4 when Pinnacle's River City Casino debuted in south St. Louis County. So there is expected to be much competition for the license being vacated by the President's closing.
It won't have to go to a casino in St. Louis, but state law only allows casinos on the Missouri or Mississippi rivers.
Source: Soloazar / Fox2
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