innacle believes that its slot machine area was prepared to operate under the new provisions from last weekend. Also effective immediately, patrons are no longer required to sign up for a players’ card prior to entering the casino floor.
Additionally, Proposition A placed a limit on the number of casino licenses available in the state and increased the tax on casino revenues from 20% to 21%. The tax increase, which became effective on November 5, is expected to increase funding for Missouri schools by more than us$ 100 million in new net revenue each year.
Pinnacle believes that the approval will be beneficial to the company, as it will allow Lumiere Place to expand its marketing from a local customers’ complex to a regional entertainment destination.
The Lumiere Place entertainment complex currently features two casinos (Lumiere Place and The Admiral Riverboat Casino); the Pinnacle-owned 200-guestroom Four Seasons Hotel St. Louis; the 294-suite HoteLumiere; approximately 22,000 square feet of meeting and convention space; several restaurants and retail outlets; and a luxury spa.