Pinnacle To Fix President Casino Riverboat, Continue Gambling

The President casino has been a major topic of discussion i St. Louis, Missouri, over the past couple of months. On Thursday, Pinnacle Entertainment, the company that runs the President, decided they will no longer battle the state.

Pinnacle had wanted to move their casino off of The Admiral riverboat. The company asked the Missouri Gaming Commission for permission to either move locations, or replace The Admiral with a newer boat.

The Admiral, according to Pinnacle, would not have passed inspections, which would have led to the President Casino losing its gambling license. The Commission said no to Pinnacle's requests, and they told the company they would have to apply for a new license if they wanted to move locations.

Instead, Pinnacle announced on Thursday that they will repair the hull on The Admiral. That will allow the casino to continue its operations. The company had appealed the Gaming Commission's ruling, but in the meantime has decided to fix the existing riverboat.

The big issue is that of the gaming license. Last year, voters limited the number of gaming licenses in Missouri to thirteen. If Pinnacle had opted to give up their license, it would have put it up for grabs through an application process.

Pinnacle now believes that once the hull is fixed, The Admiral will pass all inspections. Pinnacle also owns one of the newest casinos in St. Louis, Lumiere Place. That downtown facility has been doing well with revenue increasing in the third quarter of 2009.

October 30, 2009
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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