St. Louis Casino
Pinnacle Picked to run St. Louis Casino
— Two St. Louis city development commissions on Thursday tapped Las Vegas-based Pinnacle Entertainment. to operate a downtown casino complex, nudging out a rival proposal by Isle of Capri Casinos.
They acted on a recommendation by a selection panel. The votes were unanimous.
The move comes a day after a St. Louis County selection panel deferred until Feb. 10 deciding between the two companies to operate a companion casino in the county.
The Missouri Gaming Commission ultimately has final say about any new casino licenses.
St. Louis and St. Louis County decided to pursue casinos together to help each other get better proposals, believing state gaming regulators were more likely to approve a two-boat, city-county project from the same company than a single, county-only casino. Gaming officials had voiced worry that a new casino in south St. Louis County would hurt revenues at a downtown one.
Pinnacle’s downtown proposal is a $250 million project that would include a hotel, meeting center, health club, spa and salon, restaurants, bars, nightclubs and condominiums. Isle of Capri pitched a $151 million downtown project. we have started moving forward in the process they asked us to proceed upon,” Rants said.
Slots Spark Productive November
The resurgent power of Las Vegas casinos was more than enough to offset weakness in Northern Nevada, driving the state’s 4.3 percent increase in November casino win to $763.7 million, from $732.3 million in November 2002, according to Nevada Gaming Control Board numbers reported Tuesday.
Robust November performances by casinos on the Strip and the Boulder Strip, in North Las Vegas and downtown contributed to a 6.5 percent increase in Clark County casino winnings, to $631.4 million from $592.7 million.
Southern Nevada’s vitality was mirrored by sluggish results in the rest of the state; casinos outside Clark County reported a 5.3 percent drop in casino win.
“Strong convention business in Las Vegas despite the smaller Comdex convention was a big factor in November,” control board statistical analyst Frank Streshley said.
Much of the statewide gain was generated by slot players, who lost $503.1 million, 13.1 percent more than the $444.7 million they lost in November 2002.
The amount bet on slots, the sum of the total cost of every pull or button-push, called “coin-in” was up 1.3 percent, to $9.5 billion from $9.4 billion. The slot win increase was partially offset by a decline in the win on table games, which dropped 8.1 percent to $254.8 million.