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Last month the Missouri Gaming Commission voted to revoke the President Casino’s gaming license for financial under performance, yesterday the Mayor presented a bill to Legislation to strip the commission of its rights to take such course of action.
Mack Bradley with Pinnacle Entertainment, the owner of the casino appeared before lawmakers to testify that “every licensee in the state is at risk if this bill fails to pass. We think it’s a serious matter for Missouri’s ability to create a stable business environment and to attract outside investment.”
Pinnacle spent months requesting a temporary closure to move the aging riverboat so that repairs could be made to the hull, a measure that Pinnacle feels would add value to the casino. All attempts were denied by the Commission.
However with the license revoked one of three other groups who have applied to open casinos elsewhere in the state, stood a chance at obtaining what would be the states only available license. The Mayor had questioned the commissions “legally suspect recommendation”.
The Commission’s Executive Director said through a lobbyist at the hearing that “stripping power to impose penalties, suspension or revocation for inadequate declining performance would neuter the commission and in effect negate our ability to regulate Missouri’s gaming industry.”
Pinnacle Entertainment holds two other gaming licenses in the state for the Lumiere Place and the new River City Casino scheduled to open next month.
Legislation is expected to vote on the bill at a later date.
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