Latest News
5/17/08 TO 5/24/08

Casino Queen invests $2M in renovations to hotel
MO - / St. Louis Business Journal / by Matt Allen / May 23, 2008

Casino owner reaches deal with lender
MO - Herbst owns Terrible's St. Jo Frontier Casino in St. Joseph, as well as casinos and gaming businesses in several states. The company previously stated it was considering selling some or all of its operations or filing for bankruptcy because of debt. On May 15... [t]he company received a term loan for $752 million. In addition, it was given a revolving loan for $99 million. / by Susan Mires / May 20, 2008

Don't pursue annexation, property owners tell Independence City Council
MO - Many residents of that area responded negatively, wondering why the city wanted more land. Such sentiments were echoed Monday night. One speaker, W.D. Hall, said Independence officials might be eyeing a casino, as the annexation could include a stretch of land along the Missouri River. "If that is the case I think we have enough gambling casinos in our area," he said. Reimal denied interest in a casino. "We have never talked about that; we don't want it," he said. "It's Sugar Creek that has plans for a casino, not Independence." / The Kansas City Star / By BRIAN BURNES / May. 20, 2008

Law on St. Charles casino fees faces repeal
MO - A state law requiring St. Charles to cut property taxes when the city's share of Ameristar Casino admission receipts increases may be repealed before it ever triggers any reduction. At the request of Mayor Patti York, the Missouri Legislature last week approved a little-noticed measure to get rid of the tax cut requirement. If signed by Gov. Matt Blunt, the measure also would repeal restrictions previously imposed by the Legislature on how St. Charles can spend its casino tax revenue. Even if the governor vetoes the repeal bill, the chances of a rate reduction next year don't look good. Missouri Gaming Commission data through last week shows Ameristar admission fees behind last year's pace. / ST. LOUIS POST-DISPATCH / By Mark Schlinkmann / 05/23/2008

Nine businesses sue KC over smoking laws
MO - Nine establishments sued Kansas City government Friday in Jackson County Circuit Court in an effort to halt the city's recently adopted smoking restrictions. The lawsuit argues the city's laws are unconstitutional on three grounds: that the ordinances give the city powers that are limited or denied by state statute, that the duties of proprietors to enforce the smoking restrictions are vague, and that the laws create a special and invalid exemption for casino gaming floors. / The Kansas City Star / By LYNN HORSLEY / May. 23, 2008

Q1 2008 Pinnacle Entertainment Earnings Conference Call - Final
MO - WADE HUNDLEY, PRESIDENT, PINNACLE ENTERTAINMENT: During the coming months we will begin to scale back on this expensive awareness campaign and focus on more cost-effective, targeted marketing to known gamers in our database. On the cost side we're becoming more efficient each month in the major areas of labor and marketing, and we have made some adjustments to our slot mix based on demand that are really starting to pay dividends for us. Also in Missouri, last Friday, the Schools First initiative filed the signatures for the referendum. It also eliminates the loss limits and put a cap on the number of licenses. / Thomson Business Intelligence Service / 5-21-08

ST. CHARLES: Worker says she took money for gambling
MO - A health care worker has been accused of taking about $80,000 from an 85-year-old St. Charles woman. She used the money for gambling. / 05/18/2008

When failure is the best option
MO - The loss limits are the last remaining vestige of the riverboat casino proposal approved by voters in 1992. As you may recall, gambling supporters floated the concept of riverboat replicas offering romantic cruises on the Missouri River and featuring fine dining, dancing and other entertainment. The entertainment would include casino gambling, but - not to worry - gamblers would be limited to losing no more than $500 per two-hour cruise. Fast forward to the present. Casinos don't resemble riverboats and they don't cruise. The only remaining remnant is the loss limit. / By The News Tribune / May 20, 2008