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Pinnacle says Missouri to seek casino's closure
Monday, January 25, 2010 at 11:04:56 AM
Casino operator Pinnacle Entertainment Inc said it has been notified that Missouri regulators plan to recommend that the license for the company's President Casino be revoked and the business stop operating on July 1.
In a filing with the Securities and Exchange Commission on Monday, Pinnacle said it received a letter from the executive director of the Missouri Gaming Commission on Jan. 21, that said the agency's staff will recommend the revocation of the casino's license at a meeting on Jan. 27.
"The letter stated that the (commission) is no longer able to allow licensure of what it believes to be an obsolete and underachieving gaming facility," the Pinnacle filing said.
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