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Competition over the 13 available gaming licenses in the state of Missouri has Pinnacle Entertainment changing plans to repair the hull of the 60 year old Admiral that houses the President Casino in St. Louis.
Earlier this year, Pinnacle had petitioned the licensing board to allow a temporary move of the vessel in order to make the necessary repairs or permit a replacement.
In August, the commission rejected “all plans regarding the repair, relocation or replacement of the President” without the gaming company re-applying for a license.
Pinnacle has appealed the ruling, charging that the Gaming Commission had all but stripped its license without due process. Earlier this month attorneys for the state outlined in a court filing that “The Commission is not attempting to prohibit Pinnacle from repairing its hull.”
If the Las Vegas based company had to re-apply for its license, competing applications from proposed casino builders throughout the state would become eligible to obtain the open license.
As for now, Pinnacle holds the license, set to expire in 2011, and plans to do what is necessary to keep it, despite the casino’s declining revenue.
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