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Tuesday, 10 December 2013 09:29

Casino Queen buyer revealed

 EAST ST. LOUIS, Ill. (AP) - A Pennsylvania-based real estate investment trust is buying the Casino Queen's real-estate assets in East St. Louis for $140 million.

The St. Louis Post-Dispatch reports that the properties being bought by Gaming and Leisure Properties Inc. include the 38,000-square-foot casino, 157-room hotel and the park for recreational vehicles.

Based in Wyomissing, Pa., Gaming and Leisure Properties was spun off last month by Penn National Gaming Inc.

The employee-owned Casino Queen will lease the property back from the Gaming and Leisure Properties for about $14 million a year.

The Illinois Gaming Board must approve of the sale, which is expected to be finalized early next year.

 

Published in Local News

   CHICAGO (AP) - Riverboat casinos in Illinois want to remain open for business around the clock.

   The Illinois Casino Gaming Association is asking state regulators for the okay to operate 24 hours a day. Currently, no casinos are open more than 22 hours.

   The Illinois Gaming Board has scheduled a public hearing for Sept. 19 in Chicago to consider the request.

   Tom Swoik is executive director of the casino gaming association, which represents most of the state's casinos. He says video gaming already is available around the clock at places such as truck stops.

   Swoik says 24-hour operations would raise revenue for the casinos and the state and create jobs.

   Opponents say extending casino hours create more problems for compulsive gamblers, who would never have to leave the casino.

 
Published in Local News

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