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09.18.2008 6:42 am

What’s the best hope for the President Casino? Will it survive? How?

St. Louis Post-Dispatch
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Our story today outlines the pressures facing the venerable President Casino, the gaming palace-on-a-boat that’s been downtown for years. It’s been shuttered several times this year because of high water (including right now). It’s facing stiff competition from Lumiere Place (owned by the same company, Pinnacle Entertainment). There’s more competition across the river from the newly renovated and expanded Casino Queen.

According to our story:

So far this year, business is down 54 percent at the President, according to figures from the Missouri Gaming Commission. Through August, gamblers spent $20.6 million there, or a little more than three weeks’ take at the region’s biggest casinos.

There’s industry speculation and comments from the President’s owners that outline some of the options for the casino.

It could close down. Pinnacle Entertainment is “pouring another $375 million into a new casino in Lemay in south St. Louis County, to open in 2010.”

It could move. The casino’s fate may be “tied to a measure on the November ballot that would end Missouri’s $500 casino loss limit and cap the number of gaming licenses in the state at 13.” If that happens, the President’s license is a valuable commodity.

Staying put doesn’t sound like an option, based on the story. The location is “challenging,” according to the general manager.

What do you make of the landmark’s future? Have you been there? Can you relate your experience? And have you formed an opinion yet on the ballot initiative that Missourians will decide in November?

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22 comments

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I remember visiting STL 15 years ago, when there were several restaurants built on barges at the STL riverfront: The Belle Angeline, McDonalds and Burger King. We ate dinner at the Belle, and I recall talking with the manager about the logistics of maintaining the floating restaurant. Dealing with sewage emission, inadequate parking, electrical feeds, high water, floating debris are just among the problems that the Belle, McDonalds and B.King dealt with, along with all the otherwise known restaurant-related operational issues.

The “landmark” status of the President is probably no longer an issue, since the boat facade barely resembles the original. I can’t imagine the boat has much of a future as a casino. And since we St. Louisans apparently do not support the President’s casino business (ie more than lip service based on sentimental feelings), we shouldn’t take offense if the boat is moved down-river.

— Ryan On The Euphonium
7:43 am September 18th, 2008

The best hope for the President is to find a way to move it southward.

— Greg
8:21 am September 18th, 2008

I don’t think that there are too many casinos I haven’t been in around the area. The President, or Admiral as I continue to call it is perhaps the dirtiest of them all. The only casino that I have ever had trouble in was the Admiral. I have only been there about 4 times that I can remember and once someone tried to get me to give them some money I had won on the way to my car. Once my car was broken into and stole some things out of the glove box. Needless to say I never went back. The boat is no longer a landmark due to that fact that it is in no way resembles the St. Louis tradition that it was. I think it was purchased by Pinnacle to close it anyway. It will end up in the bone yard. After my experience on the riverfront I stay out of that part of town for entertainment. Have not been to the new casino and probably won’t.

— first tom
8:57 am September 18th, 2008

I remember the Admiral in its heyday.
It was a great boat and if it had been respected it still would be.

It would have been great as a casino that actually moved, but it was allowed to deterioate long before then. I agree it’s hard to see its original condition these days. I haven’t been to it in few years since it was moved north of the Eads. Haven’t been to the Lumiere and it sounds way to expensive since I don’t gamble much anyway.

I hope there is still a way to keep the old girl around but I guess it’s at the end of its life. I’ll toast to it later.

— Kathy
9:18 am September 18th, 2008

I say good riddance, and take the other casinos with you! Look at the millions lost ($) that otherwise would be spent on goods and services in and around the St. Louis area. Not to mention the taxes that were diverted from the original target. These places only serve to drain monies from people who could least afford to lose it in the first place. I believe it was 1993 when the voters of Missouri voted down the gambling proposal on the ballot, then the Democratic controlled Congress in Jefferson City changed the definition of gambling to a “game of skill” vs. a “game of chance”, and passed the law, circumventing the voters will. A thirst for more tax dollars was the sole reason.

— A. Patriot
9:19 am September 18th, 2008

It’s a goner. The only reason it hasn’t been floated somewhere else or scrapped is the owners want to know if the licenses will be capped. If the cap passes, the boat will still be gone, but at least there will be some part that can be sold for a profit – it’s license.

— Anonaman
9:34 am September 18th, 2008

What? The president casino is still there?

Their best hope is that the boat sinks or catches fire so they can cash in on their insurance policy. Or more realistically, that the measure on the November ballot caps the gaming licenses at 13, so they can sell the license. Nobody wants to gamble in a cramped little tugboat when there’s a huge casino a few hundred yards away.

— b
9:44 am September 18th, 2008

Sink it! We need that boat disguised as a casino on the river front like we need another flood. It’s time someone bring a little class to our river front and city. We have this great Arch over looking the city and river. Then you look at the river front and see the President casino. It’s time we become a city that people, conventions and most importantly businesses want to come back to and establish roots. We have become just a middle of road city with nothing to offer.

— SouthSide
10:51 am September 18th, 2008

A. Patriot,
Stay on the topic. I get so sick of hearing people trying to control what we have to do for entertainment. If you don’t like the casinos, don’t go there. Simple as that. Its not going to do any good to turn this into weather gambling should be legal or not. You shouldn’t have a darn thing to day about what I like to do in my spare time and where I choose to spend my money. A man that can’t hear, can’t go to the show and some of us are not physically able to go bowling. I don’t care what you do with your time and money so don’t care what I or anyone else does. Don’t turn this one into politics.

— first tom
10:59 am September 18th, 2008

I recommend either moving the President to another more lucrative location or putting it right next to the Lumiere and have access to the President and Lumiere at the same time. This way, you could consolidate the two operations into one and need less staff for upkeep and could put in different types of games in each casino.

By the way, I hope the loss limit is removed. Who am I to tell you what to do with your money or how much of it you can lose. You are responsible for your own actions.

— Dan S
12:12 pm September 18th, 2008

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