Missouri Gaming Commission Votes To Revoke President Casino License

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The Missouri Gaming Commission took the next step in their battle with Pinnacle Entertainment over the President Casino in St. Louis. The Commission voted unanimously to move forward with revoking the license of the casino.

The President Casino has been going downhill for a long period of time. Flooding often keeps customers from entering the casino, and the riverboat that the casino is on, the Admiral, is old and run down.

Pinnacle had asked the Commission for the right to replace the old riverboat, but their request was denied. Gaming officials then believed that Pinnacle was keeping the casino open only to maintain the casino license.

On Wednesday, the Commission moved along with the revocation process. Pinnacle now has thirty days to request a public hearing on the issue, and the company does not appear happy with the ruling.

"It's outrageous," said Pauline Yoshihashi, a spokeswoman for Pinnacle, "We have invested almost $1 billion in this area and have played by all the rules. We did not pick this fight. We are studying all our legal remedies."

Pinnacle also owns Lumiere Place, a downtown St. Louis casino that was opened in 2007. The company has another casino opening in the area, and believes that their commitment to the St. Louis gaming market should have been beneficial to different outcome than the one that came on Wednesday.

January 27, 2010
Posted By Vincent Tapoglia III
Staff Editor, CasinoGamblingWeb.com
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