Missouri Gaming Commission meeting focuses on casino finances

JEFFERSON CITY, Mo. -- The Missouri Gaming Commission met privately Monday to pore over financial information related to the three casino companies in contention for the state's last available gambling license.

Word of whether Isle of Capri's $125 million proposal for Cape Girardeau is selected -- or one of the others -- will likely come no sooner than the commission's next regularly scheduled meeting Dec. 1. That's despite the fact that commission chairman Jim Mathewson had said previously he hoped to have a decision by Thanksgiving.

On Monday, the commission gathered in its Jefferson City offices during a closed meeting to review proprietary financial data provided by the Department of Economic Development and the casino companies. In addition to Isle of Capri, the other companies hoping for the 13th license are Casino Celebration, which wants to build a resort-casino near the Chain of Rocks Bridge in north St. Louis; and Paragon Gaming, which wants to build a casino in Sugar Creek near Kansas City.

No action was taken after the closed meeting Monday, said commission spokeswoman LeAnn McCarthy.

"I don't know if a decision will be issued at our Dec. 1 meeting," she said. "The agenda has not been finalized, but we'll know when it is if that's the date."

Commission meeting agendas are normally finalized about a week before the meeting, she said.

The public may get a glimpse of what commissioners looked at next week when a detailed financial impact report of the three companies' proposals is released by the state's Department of Economic Development. Department spokesman John Fougere said they are putting the finishing touches on the report, which compares how each casino would affect the state's coffers. The report is expected to go to the commission by the end of next week, when McCarthy said they will release a redacted version to the public.

But the commission got the bulk of the report's findings at its October meeting during a department presentation, she said, which they looked at again Monday.

Mayor Harry Rediger, a big casino proponent in Cape Girardeau, said he's in a holding pattern.

"It's just become a waiting game for us," he said. "They have really been closemouthed about how they would make an announcement. But I would think they have enough information now to make their decision. Who knows?"

Isle of Capri spokeswoman Jill Haynes said the company has given the commission all of the information it needs.

"As far as we are aware," she said. "We believe we have presented the best case for the 13th license coming to Cape Girardeau. At this point, we have to wait and see what the gaming commission's decision is."

Some of Isle's financial information includes the fact that Isle of Capri has more than $1 billion in revenue and operates 15 casino properties in six states -- Missouri, Colorado, Iowa, Mississippi, Louisiana and Florida.

There are three Missouri Isle of Capri casinos -- Boonville, Kansas City and Caruthersville. In Boonville, the casino employs 512 people and has an annual payroll of $14.6 million. Its Kansas City casino employs 462 people and has an annual payroll of $16.2 million. In Caruthersville, employment at the casino is 314 with an annual payroll of $8 million. Isle has a total Missouri payroll of $66 million.

smoyers@semissourian.com

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