Pinnacle seeks hearing on plan to close President Casino

The Las Vegas-based casino operator made the request Friday, said Mack Bradley, a Pinnacle spokesman.

President Casino cut its hours and operations amid losses from repeated flooding-related closures and increased competition from its sister casino nearby, Pinnacle’s Lumiere Place. Pinnacle had wanted to repair or replace the President’s Admiral riverboat in order to keep the gaming license, which became even more valuable in 2008, when voters capped the numbers of licenses statewide to 13.

But last month, the Missouri Gaming Commission voted unanimously to take the first step to revoke the President Casino’s license. If regulators are successful, Pinnacle would have to shut down the President by July 1.

Legislation that would prevent state regulators from yanking the President’s license got a hearing Monday with a House committee in Jefferson City.

Pinnacle is expected to get approval for a gaming license Wednesday for its newest property, River City Casino, which opens next week in Lemay. The Missouri Gaming Commission is making its final inspection of the us$ 380 million River City Casino this afternoon as one of the last steps in the licensing process and will consider the River City license at its meeting Wednesday morning.