The battle in Missouri for the last casino gaming license that was available went down to the wire, and several key areas of the state were hoping to secure the license. In the end, it was Cape Girardeau that won the rights to the final license, and now the development can begin.
St. Louis had the advantage of already having a large casino
The gaming company has casinos in several states and proposed a $125 facility in Cape Girardeau. Isle of Capri was helped by a study that showed Cape Girardeau would be the best place for a new casino. The saturation of the gaming market in St. Louis may actually have hurt Casino Celebrations' chances of winning the license.
Casino Celebrations had been proposing a $132 million facility in St. Louis. The third proposal that was being considered was from Paragon Gaming. The $107 million proposal was the lowest of the three, and would have placed a casino in Sugar Creek. Now, the waiting game begins for Isle of Capri.
While the gaming company won the rights to the license, they will not actually receive the license until the facility is ready to open. That leaves the door open in case there is any development funding problems along the way. The state reserves the right to re-open the bidding process should any problems arise.
Cape Girardeau officials, meanwhile, applauded the decision that is expected to pump millions of dollars into the community. The casino will not only generate millions of tax dollars, but also will provide much needed jobs for residents in the area. The Gaming Commission reached their decision this past Wednesday after months of analysis.
December 5, 2010
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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