President Casino Potentially Movable Quickly

President Casino Potentially Movable Quickly

Riverboat gambling has long been one of the unique aspects of life in the United States and in particular there are certain areas of the country for which riverboat gambling has long been a source of recreation, entertainment and most of all revenue. Missouri is definitely one of these states and the President Casino has long been one of the most impressive riverboat gambling operations because of the professionalism of its staff and the excellence of the overall experience. The President Casino is owned by Pinnacle Entertainment Incorporated which is based in the city of Las Vegas but also has many operations in other states such as the President Casino in St. Louis, Missouri.

However, troubled times have fallen on the Pinnacle Corporation as of late. Their overall revenue at the President Casino has been down about 57% in terms of comparisons to this time last year and because of that the President Casino has come under fire from its own company. The President Casino currently inhabits a boat that is old, rusty and certainly worn out in many ways. The boat itself has a hull that is over 100 years old (predating both world wars in fact) and that hull has slowly been deteriorating over the course of time. As long as profits at the President Casino were up and revenues were up along with them there were not that many people around to complain about the state of affairs but as soon as the profits started to dip everyone in town became a financial critic of the way in which Pinnacle has been running the President Casino. The fact that flooding forced a month and a half long closing of the casino that coincided with a time when they might have been able to recover revenues was also something that turned public opinion against the Pinnacle Corporation.

In practical terms, it means that Pinnacle is going to start shopping around for a place to relocate the President Casino, taking it away from the downtown bustle and hustle of St. Louis and putting it in an area that is still widely accessible but at the same time allows them to create a bigger and better boat and have better amenities to offer the people that decide to visit their casino. The move is not official as of yet and in fact neither is the request for the move, but according to the government regulators that are responsible for dealing with Pinnacle it is quite possible that such a request could be fast tracked.

The main reason for this is that there is recognition on the part of the government that this type of move was coming soon since the boat housing the President Casino is in such bad shape and as such there has been an expectation for some time now that such a thing was going to happen sooner or later. At the same time, Pinnacle’s executive staff has already been vetted by the government when they set up the operation initially and since no changes have been made it possible that those types of security checks could be done with greater expediency than before.

July 11, 2011 by : posted in Industry and Economy No Comments