It’s time to ante up, and 15 groups have. As of last week, theMissouri Gaming Commission has received letters from 15 parties interest in the highly anticipated 13th gaming license in Missouri. Most letters came from real estate developers, but 4 came from cities and one came from a casino operator.
This is only the first step in the process of adding a new casino in Missouri. The next step should come later this month when the Commission is expected to call a public meeting to outline the application process for these 15 interested parties and start collecting more specific proposals.
Interestingly enough, Pinnacle Entertainment (NYSE:PNK), current holder of the license at the President Casino which will be returned to the Commission in a few weeks, did not express interest at this time.
The 15 parties that have expressed interest are (in no particular order):
- Isle of Capri Casinos. This is the only casino company that submitted a letter of interest. Based in Creve Coeur, MO, the company currently has no casinos in Missouri, but has publicly stated that they are investigating several options in several areas. The company has allegedly been in discussions with Cape Girardeau concerning a location there.
- St. Louis Capital Partners, LLC. Joe Uram, who is the former CFO of Argosy Gaming is included in this group. Their letter indicated an interest in a Cape Girardeau casino.
- North County Development LLC group. Received zoning approval for a casino complex near the Columbia River Bottoms despite opposition from local residents and environmentalists.
- Coastal Capital Management, LLC, a New York-based casino developer. The group is led by Kenneth Shea, who led gaming operations for an investment fund.
- Blue Sky Development, owned by John Parker. Blue Sky Development also owns the French Lick Resort and casino in French Lick, Indiana.
- A group including Jim Koman, (owner of the Casino Queen in East St. Louis) expressed interest in a riverboat project south of the Chain of Rocks Bridge.
- West Alton Partners, LLC. Tried to obtain a license in 1996 for a casino to be located in North County.
- Unbridled Entertainment. Also expressed interest in a casino to be located in Cape Girardeau.
- The City of Sugar Creek, MO. Located near Kansas City, the city tried to get a license in 2008 when the 13-license cap was implemented.
- Louisiana, MO. Located about 35 miles southeast of Hannibal, MO, on the Mississippi and just south of the Ted Shanks Wildlife Management Area.
- Ingenus Management. This gaming consulting firm from Minnesota is also pursuing a license for a casino in Iowa.
- Dream Big LLC, a small group businessmen from Cape Girardeau
- A company called Railroad Casino Train, lead by a former transportation planner for St. Louis Metro transit agency, reportedly proposing a casino license for a train that would travel from St. Louis to Kansas City, making limited stops between, which would share revenues with cities along the way.
- The City of Cape Girardeau, submitted by City Manager Scott Meyer.
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Paradox Investments, LLC (dba: Casino Celebration) submitted by Gregory Smith proposes a casino in St. Louis.
Tags: cape girardeau, casino, casino queen, gambling, gaming, isle of capri, north county, smoking license, st louis
