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President Casinos was a gaming company and casino operator based in St. Louis, Missouri that was active in the 1990s. In the 2000s it went into bankruptcy and had liquidating by the end of the decade.
History[edit]
Its riverboat casino The President in Davenport, Iowa which opened in April 1991 was one of the first modern riverboat casinos in the Midwest and South after they started becoming legal. It began trading on NASDAQ in 1992. On June 20, 2002 President Casinos filed for Chapter 11 bankruptcy. Viewed 7051 times Current avarege rating 3.4 (78 votes) Picture by (kept private) Submitted on 2/5/2005.
The company was founded in 1991 by Pittsburgh millionaire John E. Connelly who owned the Gateway Clipper Fleet and SS Admiral. Its riverboat casino The President in Davenport, Iowa which opened in April 1991 was one of the first modern riverboat casinos in the Midwest and South after they started becoming legal. It began trading on NASDAQ in 1992.[1]
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On June 20, 2002 President Casinos filed for Chapter 11bankruptcy. On April 15, 2005 the President Casino Broadwater Resort in Biloxi was sold to Broadwater Development.
On February 24, 2006, Pinnacle Entertainment announced that it would purchase the President Casino Laclede's Landing for $31.5 million. On December 21, 2006, Pinnacle Entertainment completed the purchase of the casino.
It has sold all of its operations since declaring bankruptcy and as of February 2009 is making its final distribution of assets.[2]
Casinos and other operations[edit]
The company lost several million dollars in unsuccessful attempts get gambling franchises in Pittsburgh, Philadelphia, New York City, New Orleans and the Catskill Mountains. Its only operating casinos were:
- The President, Davenport, Iowa opened 1991 in (later acquired by Isle of Capri Casinos subsequently retired. Associated with the casino was the landmark Blackhawk Hotel in downtown Davenport.
- President Casino Broadwater Resort, Biloxi, Mississippi opened 1992 (acquired by Broadwater Development LLC in 2005 and destroyed shortly thereafter by Hurricane Katrina)
- President Casino Tunica Southern Mist, Tunica, Mississippi, opened 1993 and closed 1994 with the Southern Mist riverboat being moved to Biloxi.
- President Casino Laclede's Landing, St. Louis, Missouri opened 1993 aboard the SS Admiral. Sold in bankruptcy in 2006 to Pinnacle Entertainment.[3]
References[edit]
- ^International Directory of Company Histories, Vol. 22. St. James Press, 1998
- ^http://biz.yahoo.com/e/090130/prezq.pk8-k.html
- ^https://www.semissourian.com/story/1182456.html
External links[edit]
Welcome to the Regional Development Authority!
Who we are: In compliance with the Iowa Excursion Boat Gambling Act, the Regional Development Authority (RDA) is the non-profit license holder and Qualified Sponsoring Organization (QSO) for the Rhythm City Casino Resort in Davenport, IA. RDA receives funds from Rhythm City Casino’s gaming operation to use in making community grants. Eligible grant recipients include qualified nonprofits, as well as qualified educational and governmental entities. The RDA Board accepts grant applications in the spring and in the fall of each year. Instructions and due dates are found in the Granting Opportunities page.
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Regional Development Authority Grant Opportunities - Announcement 8-17-2020
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The Regional Development Authority is pleased to announce a normal granting cycle for the Fall of 2020! A normal cycle involves an online application open to qualified entities for a broad range of community funding requests, a Board applications scoring process, and a publicly-held Board meeting to approve grant recommendations. The RDA grant online application will open on August 24, 2020. The due date for the Fall 2020 applications is 11:59pm – September 30, 2020. Application questions have been refined to include consideration of specific pandemic challenges, current economic conditions, and addressing racial inequities. The three guideline documents posted on this page have been updated to reflect changes in the application.
The date of the RDA Board meeting to approve Fall 2020 grants will be announced on this website. Because of health and safety concerns, this Fall 2020 Board meeting will not be held in person. Instead, the Board will meet through a ZOOM video conference and a pubic “call in option” will be announced prior to the meeting. The tradition of sharing community updates will be delayed until we meet in person again. Thank you for the work you do to make our community a great place!