Regulators In Missouri Will Vote Wednesday On Casino Closing

There has been an ongoing battle between Pinnacle Entertainment and state gaming regulators in Missouri. The regulators fear the casino is only open to protect the gaming license it possesses, and the casino wants to replace the riverboat casino.

On Wednesday, state gaming regulators will vote on whether or not to force the President Casino to close. If the regulators vote in favor of the closure, an additional casino license could open in the state.

Pinnacle Entertainment owns the President Casino, which has been struggling in the past couple of years. Pinnacle wanted to replace the president with another facility, but regulators did not allow the change. Regulators believe that Pinnacle is only keeping the casino open to save the license.

The President Casino has been struggling financially for several years, and Pinnacle does not want to put money into the old location. Instead, they would rather replace it. The riverboat casino has run into trouble with Coast Guard inspections, and is expected to fail the upcoming inspection in July.

Pinnacle Entertainment could be the culprit of their own doom at President Casino. In late 2007, the company opened Lumiere Place, a casino that has stolen many customers from the President. Pinnacle, however, has been unwilling to give up the casino license.

Although there is the tension from the President between gaming regulators and Pinnacle, the company continues to expand in Missouri. In March, the River City Casino, a new facility from Pinnacle, is expected to open. It will be the third property for Pinnacle in the St. Louis area.

January 26, 2010
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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