Louisiana Gambling License Deadline Set For September

The Louisiana casino gambling industry has struggled over the past several years much like casinos around the US. That has not stopped gaming regulators, however, from opening the application process for a new gaming license in the state.

On Wednesday, the Louisiana Gaming Control Board announced that developers will have until September 23rd to submit applications for a riverboat casino license. Three developers have already expressed interest, and several others are expected to submit bids.

The license was returned to the state from Pinnacle Entertainment when they decided against moving forward with a casino project in Lake Charles. Pinnacle is based in Las Vegas, and this is the second license they are returning spanning two different states.

In Missouri, Pinnacle is forfeiting the license of their President Casino in St. Louis. The President has had declining revenue, and the Admiral riverboat where the casino is located was not expected to pass a Coast Guard inspection this summer.

The St. Louis license forfeiture came across as somewhat of a power play by Missouri regulators. Pinnacle had asked the Missouri Gaming Commission for the right to replace the aging riverboat casino, but they were denied. Pinnacle then began a legal battle with Missouri, but decided against souring relations in a state where they have several other casino properties.

The Louisiana casino industry had been devastated by Hurricane Katrina several years ago, and just when the industry was recovering, the economic recession hit the US. The recession has crippled casinos not only in Louisiana, but also in tradition-rich Nevada and New Jersey.

June 16, 2010
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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