NewsMay 8, 2008
New St. Louis casino shows slight loss
ST. LOUIS (AP) -- St. Louis' newest casino takes a loss in its first full quarter of operation. Las Vegas-based Pinnacle Entertainment opened the $507 million Lumiere Place on the St. Louis riverfront on Dec. 19. For the period of January through March, Pinnacle says the casino lost $760,000 on revenue of $47.2 million...
ST. LOUIS (AP) -- St. Louis' newest casino takes a loss in its first full quarter of operation.
Las Vegas-based Pinnacle Entertainment opened the $507 million Lumiere Place on the St. Louis riverfront on Dec. 19. For the period of January through March, Pinnacle says the casino lost $760,000 on revenue of $47.2 million.
The results include the casino, its hotel complex and the Admiral Riverboat Casino, a much smaller downtown casino.
Receive Daily Headlines FREESign up today!
Pinnacle says the company incurred high expenses for customer services, staffing and marketing associated with the startup.
Pinnacle is planning another casino in south St. Louis expected to open next year.
Overall, Pinnacle says first-quarter revenue was up 10.5 percent to $257 million for the first quarter.
Story Tags
Advertisement
Connect with the Southeast Missourian Newsroom:
For corrections to this story or other insights for the editor, click here. To submit a letter to the editor, click here. To learn about the Southeast Missourian’s AI Policy, click here.
Related
Advertisement
Receive Daily Headlines FREESign up today!
