That’d be the President, symbolic flagship of Pinnacle Entertainment‘s fleet. The St. Louis Post-Dispatch has an excellent story, laying out the complexities surrounding the Missouri Gaming Commission‘s legally dubious move to shut the old ship down. There are no heroes or villains here. Pinnacle’s handing of the President is clearly a cynical charade but regulators are wading deep into a gray area in their efforts to scuttle the boat. The story doesn’t make clear whether or not the President’s license is “portable” to another location (Pinnacle clearly believes it is), which would allow Pinnacle to annex the coveted Chain of Rocks area.
It looks as though the MGC is going to have to swallow its pride as Pinnacle continues — with some 11th-hour help from the Lege — to play “keep away” with Missouri‘s license #13. Unlike New Jersey, the Show-Me State doesn’t have a clearly written mandate to prevent Pinnacle from running a Columbia Sussex-style, bottom-feeding operation on the St. Louis riverfront. Even if a compromise is brokered that allows Pinnacle to replace, drydock or relocate its vessel, that leaves Missouri one casino short for an indefinite manner of time. It might be better for consumers if a new operator were brought onto the playing field but Pinnacle’s got everybody in a box on this one (and has the support of St. Louis’ mayor). That’s not the prettiest scenario but it’s one Missourians will have to live with after voting to cap casino licenses in their state.
When it comes to cynical charades, sometimes one has no choice but grit and bear them. This appears to be one of those times.
This has been quite the soap opera here locally. It was pretty obvious Pinnacle bought the President a few years back for the gaming license. The boat was never long for this world. Now the Missouri Gaming Commission is trying to change the rules since the number of licenses were capped by a creative Ameristar/Pinnacle tandem effort. Conspiracy theorists go even further suggesting MGC head Gene McNary (former St Louis County executive) is looking to pay back a few buddies in North St Louis County at the Chain of Rocks site. Now you have the St Louis mayor trying to keep the boat/license in the city, the MGC head trying to get it in north St Louis County and the folks in Sugar Creek and Cape Girardeau just hoping for a chance to bid on the coveted last license. I agree with Pinnacle that the license they have should be portable. As the article states, that is going through the court system now. The State lege is trying to prevent the MGC from yanking licenses. The only thing for sure is that it’s going to take a very long time for the last card to be played between new laws, court decisions, appeals, et al.
On another note, the other Pinnacle casino is due to open in south St Louis next week. I think that is going to be a winner. The location is probably going to draw many south siders and Southern Illinois gamblers from Lumiere. While it’s far from being a nice part of the St Louis metro, I’d feel a lot safer parking my car there than at Lumiere in downtown. The middle and upper middle class residents of south St Louis county should support it pretty well I’m guessing.
Thanks for keeping the Lou in your gaming stratosphere, David.
Back in the day, it sure was a heck of an excursion boat — probably the finest the USA has ever seen, but the glory has been fading since the 1970’s. Long ago I gave up gambling anywhere in St. Louis (I’m a native and fairly frequent visitor) due to poor pay tables on video poker. I guess the demise of this boat (yes, it was a boat loooong before it was a casino) shows that the St. Louis market is aimed at locals, not tourists, and that is too bad for the Lou. The location of the boat is right by the iconic arch and just a few blocks from Busch Stadium. I gotta think that someone with a little creativity could make money there.
The hero is the boat itself! Before it was a casino it was a great river exclursion boat. One deck had a live band and large dance floor. Another deck had carnival games. Another had a restaurant and the upper deck was great for watching the shores go by and of course for “necking”. This boat was big source of fun in St. Louis
I recall that boat fondly, Tom. Nearly every time my family would drive into St. Louis from Edwardsville, IL, we’d pass the Gateway Arch and there she’d be, gleaming along the waterfront. If this is the last chapter of her life, it’s a terribly sad one, especially for those of us who remember her as a marquee attraction.