Pinnacle Awarded Missouri Casino License, But May Lose Another

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Pinnacle Entertainment will be opening a new casino in St. Louis, Missouri, next week. This news comes on the heels of Wednesday's vote by the Missouri Gaming Commission to approve a license for the River City Casino.

The Gaming Commission was in an unusual position of having to award a license to a company that is currently being stripped of another license in St. Louis. Regulators have voted to take away the gaming license of the President Casino, which is owned by Pinnacle.

The company has filed a request for a hearing on the President Casino issue, preparing to show that the Commission made the wrong decision with their plan to close the President. Pinnacle, nonetheless, was excited about Wednesday's vote to approve the River City Casino license.

"In light of this current economy, opening in March, we hope to average approximately $17 million a month in gaming revenue, coming out to $172 million for this current year," said Pinnacle Regional Vice-President Todd George, "The admissions for the period are projected to be approximately $5.4 million."

The St. Louis area will now have seven casinos, and will be the driving force behind the casino gambling industry in Missouri. The expansion goes along with a movement throughout the US to increase the amount of casinos.

States such as Delaware and Pennsylvania have moved even further into the realm of full-scale gambling. Delaware lawmakers have legalized sports betting, and Pennsylvania legislators made table games at casinos legal in January.

February 24, 2010
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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