Revenue Holds Steady In February At St. Louis Casinos

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It was a busy week for the city of St. Louis when it came to their casino industry. On Wednesday, the city learned that the President Casino would be closing, and on Thursday revenue figures were released for the month of February.

The owners of the President Casino, Pinnacle Entertainment, had been battling the Missouri Gaming Commission on the regulators decision to start proceedings to have the President closed. The casino has been struggling financially in recent years.

On Wednesday, however, Pinnacle decided to end their legal battle and agreed to close the President. In exchange, the gaming regulators would drop all penalties that have accrued for the casino.

Thursday, St. Louis learned that their casinos had revenue of $88.1 million in February. That is down only slightly from the $88.3 million that the casinos won in February of 2008.

The closure of the President will open up a casino license in the state. It is not yet known how the gaming regulators will go about replacing the President. Pinnacle has not ruled out the possibility of bidding on the license that they will be turning over.

March 14, 2010
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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