Bankrupt casino seeks permission to make campaign contributions
Wednesday, August 7, 2002
ST. LOUIS -- Two months after filing for bankruptcy, President Casinos Inc. has asked a court for permission to make $50,000 in campaign contributions in Missouri.
In the "emergency" motion, filed last week in U.S. Bankruptcy Court in Biloxi, Miss., the casino company said it must make the contributions "to further and protect its business interests," the St. Louis Post-Dispatch reported Tuesday.
Citing the Missouri law that limits losses at a casino to $500 per gambling session, the company said political donations are "particularly important with respect to the operations in Missouri." President Casinos, as well as other casino operators in the state, have sought a repeal of the limit.
The casino company asked for permission to make half of the $50,000 worth of donations before Tuesday's primary election, with the remainder coming before the general election in November. The money would go to "the State House and Senate and to their respective Leadership Funds."
President Casinos owns and operates the President Casino on the Admiral along the Mississippi River in St. Louis, as well as a casino and resort in Biloxi. The company has said it expects to emerge from bankruptcy next year without needing more financing.