MO Gaming Commission Votes To Cloe President Casino

Full story: Fox2Now

Louis casino. The Missouri Gaming Commission voted 4-0 on Wednesday to revoke the license of the President Casino.
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1 - 11 of 11 Comments Last updated Sep 5, 2010
American Gaming Guru

Irvington, NY

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#1
Jan 27, 2010
 

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The MGC MUST BE INVESTIGATED. What a sham. Pinnacle proposed to utilize one of their more modern boats in its place and move the operation to another part of the state to be more profitable and accomplish exactly what the MGC has stated. The problem with that is that the MGC wants the fee from a re-auction of the license!!! This is an absolute disgrace and the MGC MUST BE INVESTIGATED NOW!!! They did not even allow a debate! Remember why their previous CEO lashed out at County Commissioners for the casino land re-zone? HE KNEW THE FIX WAS IN and the press was to dumb or too influenced to report otherwise.
john

Saint Louis, MO

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#2
Jan 27, 2010
 

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Good Riddens. The leaching gaming companies give nothing back to the people but heartach and sorrow.
Disgusted

United States

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#3
Jan 27, 2010
 
The gaming industry does not force people to enter their doors. They do it completely voluntarily. If this causes them problems in their own personal life then they themselves should be held accountable.
Anyone that believes that the casino's are responsible for their bad choices need to realize they themselves are the problem.
Closing the casino doesn't hurt the Gaming Entertainment company, it hurts the 240 employees left in the wake who are trying to make a living for themselves and their families.
Obviously you don't have anyone you care about that depends on the President for employment. Maybe you yourself are blaming the Prez. for your bad choices or a possible gambling addiction. If that's the case, remember this number: 1-800-betsoff!
boatguy41

Chesterfield, MO

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#4
Jan 27, 2010
 
Instead of wanting to get a newer vessel to replace the Admiral, I wish they would invest money into the ol'gal to fix her up a bit. Don't really care to gamble, but I don't look down on those that do. The Admiral has such a great history with this city that it would be ashame to see it sit and just rot somewhere. Maybe when they were pouring milllions into the new casino in Lemay they could have shelled a couple of mill into the 103 year old hull of the Admiral. Just going to be sad to see yet one more thing to leave the riverfront.
crr

Arnold, MO

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#5
Jan 27, 2010
 
Perhaps the President should have cracked down on allowing underage gamblers and breaking other rules. Any casino that breaks the rules should pay consequences.

Since: Feb 08

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#6
Jan 27, 2010
 
American Gaming Guru wrote:
The MGC MUST BE INVESTIGATED. What a sham. Pinnacle proposed to utilize one of their more modern boats in its place and move the operation to another part of the state to be more profitable and accomplish exactly what the MGC has stated. The problem with that is that the MGC wants the fee from a re-auction of the license!!! This is an absolute disgrace and the MGC MUST BE INVESTIGATED NOW!!! They did not even allow a debate! Remember why their previous CEO lashed out at County Commissioners for the casino land re-zone? HE KNEW THE FIX WAS IN and the press was to dumb or too influenced to report otherwise.
What planet are you living on? Pinnacle fought like hell in B/C to get the boat for one reason....keep away competition from the Lumiere Place. Pinnacle spent millions on the election to remove the loss limit rule and cap the number of licenses in the state, again to limit competition. They bled the Admiral dry and put nothing back into it, minimizing operations only to hold on to the license. They don't deserve it. And don't count on a fight. They want RC to be licensed, asap.
WildBill

Imperial, MO

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#7
Jan 27, 2010
 

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Well, The owners of the casino PAID for the license and still employees X number of people, When we get a business license to do business, then the state can step in and say we think you could make more money, well we will just take your license and put the people out of work, when the state on one hand is saying we are trying to get more jobs for Missouri, then on the other hand taking jobs away,,,,,? typical gov. If they are holding the "license" hostage, they paid the fee for it, and they still have employees, why close them in these times? It wold take 2-5 years of planning to even get started hiring people that this action would cost in jobs and revenue. WAY TO GO MISSOURI GOV.
Bill.
towman

Kansas City, MO

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#8
Jan 27, 2010
 
the hell with that old boring boat, home of the takeyo-MONEY SLOTS!

Since: Feb 08

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#9
Jan 28, 2010
 
WildBill wrote:
Well, The owners of the casino PAID for the license and still employees X number of people, When we get a business license to do business, then the state can step in and say we think you could make more money, well we will just take your license and put the people out of work, when the state on one hand is saying we are trying to get more jobs for Missouri, then on the other hand taking jobs away,,,,,? typical gov. If they are holding the "license" hostage, they paid the fee for it, and they still have employees, why close them in these times? It wold take 2-5 years of planning to even get started hiring people that this action would cost in jobs and revenue. WAY TO GO MISSOURI GOV.
Pinnacle paid a fee for a gaming license (owned by the state) to operate that boat..."The Admiral" at that site. Not another boat at that site, not The Admiral at another site. Pinnacle does not own the license.
As for jobs, just move all of the Admiral employees, current and past, to he new River City casino.
Bill.

Since: Feb 08

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#10
Jan 30, 2010
 
The AGG needs to read the 8-K filed late Friday the company and get his facts straight.
SickofPNK

Saint Louis, MO

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#11
Sep 5, 2010
 
EminentDomain wrote:
<quoted text>
Pinnacle paid a fee for a gaming license (owned by the state) to operate that boat..."The Admiral" at that site. Not another boat at that site, not The Admiral at another site. Pinnacle does not own the license.
As for jobs, just move all of the Admiral employees, current and past, to he new River City casino.
Bill.
Not that this is even remotely relevant anymore BUT...
That is simply not true about the license being "tied" to the vessel. Or is this some NEW rule implemented in the years since Ameristar replaced it's "boat???"
AND there is absolutely NO precedent for Gaming Regulators to have the authority to mandate financial performance (only some vague inference made by the now-departed Gene McNary to MGC's responsibility to the "best interests of the state..."
While the MGC (IMHO) vastly exceeded their authority throughout the entire process PNK's actions were less than conscionable... they were downright reprehensible!!! Pinnacle's senior St. Louis management (in conjunction with corporate management) DELIBERATELY supressed business at the President in order to inflate the revenues at Lumiere Place. THIS IS A FACT!!!
While I disagreed with McNary's position that he had authority to force Pinnacle to close the President his statements to the above were absolutely correct! In a statement to the press, Jack Godfrey said that Pinncle NEVER tried to deliberately supress revenues at the President... Hmmm an attorney not telling the truth??? Maybe he should be in politics instead?
The entire fiasco has truly soured me on the Casino Industry and St. Louis as well. Best of luck Pinnacle in a year or two when Anthony has done to you what it did to Multimedia Gaming... but only after he has artificially driven the stock price up and gotten his $$$.

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