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With the possible loss of millions of dollars per year in taxable revenue, the city of St. Louis is looking for someone to step in and replace the soon to be closing President Casino.
Missouri has a cap of 13 casino licenses. Earlier this month, President owner Pinnacle Entertainment announced it would shut down the aging President no later than July 1.
Now, The Land Clearance for Redevelopment Authority and Port Authority is hoping for a new gaming facility developer to bid and keep the soon-to-be available gaming license in the city.
The Gaming Commission has set a May 1st deadline for applicants to apply, so the Mayor’s office feels that time is of the essence.
“Getting financing for gaming projects is a challenge,” said Jeff Rainford, Mayor Francis G. Slay’s Chief of Staff. “So given the timeline given to us by the gaming commission we decided to put out a RFP to see if there still is interest in a gaming facility.”
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