St. Louis, MO (KPLR)—
Members of the Missouri Gaming Commission will be asked to vote tomorrow on a proposal that would begin the process of revoking the casino's license. The reason behind the vote is that the casino's revenues have dropped by nearly 50 million dollars in just the last five years. The gaming commission staff feels the state could generate more revenue if it could grant a license to someone else.
Pinnacle entertainment runs the President casino. The company also operates the Lumiere casino just a few yards away. If the President loses its license the state could grant a new license for a casino in a different part of the state. For now Pinnacle Entertainment has no comment other than it will pursue all legal means in order to protect its licenses.
St. Louis Mayor Francis Slay sent a letter to the Gaming Commission stressing how vital the President is to the local economy. He says 240 jobs would be lost and two million dollars a year in tax revenue would be gone. The city fears the vote will be made without gaming commission members realize the full impact a shutdown would have.
