NewsAugust 26, 2009
New license required to repair President Casino
JEFFERSON CITY, Mo. -- Missouri gambling regulators say owners of the President Casino in St. Louis cannot replace the aging facility without seeking a new operating license. Pinnacle Entertainment Inc. wants to replace the Admiral riverboat upon which the casino sits with a new barge. The Admiral will no longer be certified for passengers after July 2010 without significant repairs. It was built in 1907 and rebuilt in 1940...
Associated Press
JEFFERSON CITY, Mo. -- Missouri gambling regulators say owners of the President Casino in St. Louis cannot replace the aging facility without seeking a new operating license.
Pinnacle Entertainment Inc. wants to replace the Admiral riverboat upon which the casino sits with a new barge. The Admiral will no longer be certified for passengers after July 2010 without significant repairs. It was built in 1907 and rebuilt in 1940.
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The Missouri Gaming Commission approved a resolution Wednesday stating that the President Casino's license is tied to the Admiral.
The decision is significant because a 2008 voter-approved law caps the number of casino licenses at 13. Missouri currently has 12 casinos and one under construction, so those seeking to develop new facilities must wait until an existing one loses its license.
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