President Casino ClosureJanuary 27, 2010
I am torn over the current attempt to close the President Casino, which I first read about on VanishingSTL. I was quite happy to hear that the Admiral was going to be repaired a few months ago, because even though I have never been on the boat, I have read and heard about wonderful times St. Louisans have enjoyed there. At the same time, consistent with the history of gambling, Pinnacle Entertainment seems to have had interests other than ours in mind when it promised to repair the admiral. Their CEO Daniel Lee was quoted (from this November) in today’s Business Journal’s Latest News saying:
“We’ve basically kept (the President Casino) open just because we didn’t want to lose the license” and that “we’re looking at reducing hours, reducing the marketing, reducing the food service options and so on because frankly we make more money if the person is in Lumiere Place. We may have kept the heat on but we are going to have this thing running in slow mode … There is no reason to operate two casinos next to each other where one is brand new and beautiful and the other is not.”
They really just wanted the gaming licence, and their willingness to do anything to keep it does warrant its removal in my opinion. I think that a better option than closing the President might be a forced sale of the casino to someone willing to compete against Lumière Place’s newness, with history. Maybe the city could even run it as a casino/museum. Hey Mayor Slay, we can win after all. I’ll run the casino for you! I have management experience!