Creve Coeur-based Isle of Capri Corp. won the support of the Cape Girardeau City Council on Thursday night as their favored partner to build a casino in the southeast Missouri city.
The vote to endorse Isle's $125 million plan for a casino just north of downtown Cape was 6-1. There was little question about the matter, city officials said, largely because the other competitor, Alton-based St. Louis Capital Partners, would share few details of their proposal before the Sept. 1 deadline to submit applications to the Missouri Gaming Commission. Isle has made full presentations to the council and community groups.
Earlier this week, the St. Louis Land Clearance for Redevelopment Authority gave a similar endorsement to Casino Celebration LLC, a group led by the Koman family, which wants to build a $115 million casino in north city by the Chain of Rocks Bridge.
The commission, which plans to award one lucrative casino license by year's end, considers these sort of local endorsements a big plus. But they are not a requirement. Developers proposing a controversial $350 million casino project in north St. Louis County, for instance, have indicated they plan to move ahead despite opposition from St. Louis County Executive Charlie Dooley.
It's unclear if St. Louis Capital Partners — a group of former executives at Argosy Gaming — still plans to apply for the license. Their chief spokesman did not return a message Friday.
Isle spokeswoman Jill Haynes said the company was happy with the vote.
"We're excited by the vote of confidence and support by city leaders," Haynes said. "We really believe that Cape Girardeau is the ideal location for the 13th license."
The endorsement is a first step, Haynes said. The city and the company must still negotiate a development agreement. And the commission, of course, will have several sites to choose from.
Cape Girardeau voters will get their say, too. There will be an initiative on the Nov. 2 ballot asking for an up or down vote on casinos in the city. A "no" vote would likely ruin Isle's chances.
