Pinnacle Purchases President Casino St. Louis Riverfront
LAS VEGAS – Pinnacle Entertainment (NYSE: PNK) announced today that it has entered into an agreement with President Casinos, Inc. to purchase all of the outstanding capital stock of President Riverboat Casino-Missouri, Inc., which does business as President Casino St. Louis Riverfront, for approximately $31.5 million. This purchase agreement will be submitted to the United States Bankruptcy Court for the Eastern District of Missouri and is subject to a potential overbid by third-parties, as well as approval by the Missouri Gaming Commission. The agreement calls for a bankruptcy auction to occur by May 16, 2006.
Located on the Mississippi River in St. Louis, Missouri, President Casino St. Louis Riverfront houses approximately 1,025 slot machines and 30 table games. It is located within walking distance of the Laclede's Landing historic district and Pinnacle's under-construction casino project in downtown St. Louis.
2006-02-27
