Riverboat Gambling Davenport Iowa
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]
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]
President Riverboat Casino was founded in 2011. President Riverboat Casino specializes in Nonclassifiable Establishments. Davenport, Iowa has a new Sky Bridge that leads pedestrians from a downtown parking garage across Highway 61 to the Mississippi Riverfront and the entrance to the Rhythm City Riverboat Casino. Bettendorf, Iowa boasts the colorful Isle of Capri Riverboat Casino on it's section of the Mississippi River. The Rhythm City 30,000 sq ft Casino is located in Davenport, Iowa. The casino architecture is inspired by the Mississippi River: there is a curved roof and its exterior. LeClaire, Iowa to Dubuque, Iowa & Return. Includes: All Meals, 1 Night Lodging, Entry to the National Mississippi River Museum, Dubuque Shuttle, Entertainment & Activities Onboard. From $409/person Double Occupancy. Riverboat Casinos Pari-Mutuel (racetrack) Casinos Indian Casinos Riverboat Casinos in Iowa Iowa was the first state to legalize riverboat casino gambling. The riverboats began operating on April Fools Day in 1991 and passengers were originally limited to $5 per bet with a maximum loss of $200 per person, per cruise.
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]
Riverboat Casinos Davenport Iowa
References[edit]
Riverboat Casino Davenport Iowa
- ^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