Online Casino Transfer: News - Gambling Boat Goes Down

06/07/2010		Online Casino Style: News Gambling Boat Goes Down
Home History Games News Dictionary		Though online gambling is quickly developing to be a potential replacement for live, land based casinos, there are those who prefer to bet in person. For states other than Nevada and New Jersey, the venues available to experience the excitement and escapism are few and far between, limited to tribal casinos and in some locations, betting boats. One such casino afloat in St Louis announced this week that they would be closing their doors and relinquishing their gambling license, unable to keep up with internet gambling competition. To be fair, a huge factor in the decision to give up came from something wholly out of their control. The Pinnacle Gambling Boat out of St. Louis, hosting the President Casino was one of the establishments affected by rising and devastating flood waters of the Mississippi River this wet season. The Casino had only just managed to reopen their doors with the recession of the waters, the business has not been good enough to recover, forcing the operations to be shut down on the 1st of July. The President Casino operates out of St. Louis, and is owned by Pinnacle Entertainment. Though only closed two weeks this year, the damage was severe enough to force their management team to rethink their gambling license, as online gambling initiatives continue to add pressure to live casino establishments. It hasn’t been their first bout of difficulty as Pinnacle purchased the casino out of bankruptcy in just December of 2006. Nearby land casinos have also been driving away the gamblers, with Lumiere Place and Lemay attracting the business instead. The seasonal flooding, however, seems to have been the last straw. Additionally, the Missouri Gaming Commission had been pushing to take back their gambling license, stating that the President Casino simply didn’t make enough money to justify its continuance. After deliberation, officials agreed that hope was lost, and will issuing the license back to the state. For new operators hoping to acquire the license, the application fee will cost $50,000.

06/07/2010

Online Casino Style: News
Gambling Boat Goes Down

Though online gambling is quickly developing to be a potential replacement for live, land based casinos, there are those who prefer to bet in person. For states other than Nevada and New Jersey, the venues available to experience the excitement and escapism are few and far between, limited to tribal casinos and in some locations, betting boats. One such casino afloat in St Louis announced this week that they would be closing their doors and relinquishing their gambling license, unable to keep up with internet gambling competition.

To be fair, a huge factor in the decision to give up came from something wholly out of their control. The Pinnacle Gambling Boat out of St. Louis, hosting the President Casino was one of the establishments affected by rising and devastating flood waters of the Mississippi River this wet season. The Casino had only just managed to reopen their doors with the recession of the waters, the business has not been good enough to recover, forcing the operations to be shut down on the 1st of July.

The President Casino operates out of St. Louis, and is owned by Pinnacle Entertainment. Though only closed two weeks this year, the damage was severe enough to force their management team to rethink their gambling license, as online gambling initiatives continue to add pressure to live casino establishments. It hasn’t been their first bout of difficulty as Pinnacle purchased the casino out of bankruptcy in just December of 2006. Nearby land casinos have also been driving away the gamblers, with Lumiere Place and Lemay attracting the business instead. The seasonal flooding, however, seems to have been the last straw.

Additionally, the Missouri Gaming Commission had been pushing to take back their gambling license, stating that the President Casino simply didn’t make enough money to justify its continuance. After deliberation, officials agreed that hope was lost, and will issuing the license back to the state. For new operators hoping to acquire the license, the application fee will cost $50,000.