Mo. Gaming Commission votes to revoke President Casino's license

Intro:	The state Gaming Commission has voted to sink the gaming operations of the President riverboat casino in downtown St. Louis. Theo Keith has more from Jefferson City.
RunTime:	0:40
OutCue:	SOC

Wrap: There was no debate and no time for comment before the state Gaming Commission unanimously voted to revoke the President Casino's license.

Commission Executive Director Gene McNary says the President is operated at an unacceptable level.

Actuality:	MCNARY.WAV
Run Time:	00:07
Description: "It's clear - their revenues have fallen off more than 50 percent, they're performing at a level lower than the rural casinos."

Pinnacle Entertainment of Las Vegas owns the President.

A company spokesman says the commission isn't letting Pinnacle repair or move the riverboat to boost its revenue.

Pinnacle will get a chance to appeal, and the spokesman didn't rule out taking legal action.

From the Missouri Gaming Commission, I'm Theo Keith, Newsradio 1120 KMOX.

Intro:	The President Casino's owner says it was shut out of the process after the state Gaming Commission voted to revoke the riverboat casino's license, citing unacceptable revenues. Theo Keith has more from Jefferson City.
RunTime:	0:40
OutCue:	SOC

Wrap: The Commission says the President's owners are driving it down, holding a valuable gaming license hostage.

Pinnacle Entertainment of Las Vegas owns the President.

Company executive Jack Godfrey says the casino is operating based on its approved business plan.

Godfrey says he should've been able to speak at the hearing.

Actuality:	GODFREY.WAV
Run Time:	00:07
Description: "It's just wrong. This is wrong. And we're not quite sure why they're doing this, but we're going to have to find out."

Pinnacle also owns the new Lumiere Place casino, not far from the President in downtown St. Louis.

The commission argues Pinnacle is dragging down the President to boost business at Lumiere.

From the State Capitol, I'm Theo Keith, Newsradio 1120 KMOX.

Intro:	A St. Louis official says the state Gaming Commission's decision to sink the operations of the President riverboat casino will cost hundreds of jobs. Theo Keith has more from Jefferson City.
RunTime:	0:43
OutCue:	SOC

Wrap: If the President closes, it'll mean 240 lost jobs at the casino.

And Rodney Crim of the St. Louis Development Corporation says the city will lose $2 million in tax revenue.

The commission says the President isn't making enough money, but Crim says the commission is making up the rules as it goes.

Actuality:	CRIM.WAV
Run Time:	00:05
Description: "We're just outraged with this. We're talking about people's lives at risk here. We're talking about jobs that'll be lost."

Crim says there is absolutely a market for two downtown St. Louis casinos.

The same company, Pinnacle Entertainment, owns the President and Lumiere Place downtown.

Both Crim and company executives say they haven't ruled out taking legal action against the commission.

Pinnacle has 30 days to appeal.

From the state Capitol, I'm Theo Keith, Newsradio 1120 KMOX.

Intro:	The state Gaming Commission voted Monday to revoke the downtown St. Louis President Casino's license, but a movement to reverse the decision has begun in Missouri's statehouse. Theo Keith has more from Jefferson City.
RunTime:	0:37
OutCue:	SOC

Wrap: One day before the commission voted to sink the gaming operations of the President riverboat casino, St. Louis Democratic State Representative Tishaura Jones filed a bill to block the shutdown.

Her bill would say...

Actuality:	JONES.WAV
Run Time:	00:07
Description: "They cannot revoke a license for inadequate, declining performance - which is pretty much an arbitrary reason to revoke a license."

If it's passed and the governor signs it, the bill could save the President.

The commission says the President's owners are holding a valuable license hostage.

The downtown St. Louis casino brings in the least money of any casino in the state.

From the state Capitol, I'm Theo Keith, Newsradio 1120 KMOX.