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The President Casino in St. Louis has been forced to close temporarily as rising flood waters on the Mississippi River blocks the entrance.
This closure is just the latest of many closures over the past couple of years because of flooding. This frequent occurrence has led to declining revenues for Pinnacle Entertainment, who owns the gaming vessel.
The declining revenue and overall condition of the aging riverboat has caused the Missouri Gaming Commission to step in and begin the process of stripping the President and Pinnacle of their gaming license.
However after months of fighting, Pinnacle agreed to relinquish the license and close the casino before July 1st, in order to focus on their other non-riverboat properties downtown.
The casino will reopen for business as soon as flood waters recede and the mess is able to be cleaned up.
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