Pinnacle Mulling Move of Mo. Riverboat Casino

20 November 2008

Pinnacle Entertainment Inc., which operates the troubled President Casino riverboat in St. Louis, Mo., is mulling whether to relocate near a bridge north of downtown.

A Pinnacle spokesman told the Associated Press that the company is considering a move but has not applied for one with the Missouri Gambling Commission.

Gene McNary, executive director of the commission, said Pinnacle's application could be expedited because the company's executive staff has undergone background checks and the new site has already been surveyed.

The President generated 57 percent less revenue in October compared to last year. Some of its income has been cannibalized by Pinnacle's property, Lumiere Place, which opened last December and is situated within walking distance of the President.