Pinnacle's River City Casino to pay $4M in rent to St. Louis County
St. Louis Business Journal
February 22, 2010
by Kelsey Volkmann
Pinnacle Entertainment, which plans to open its $392 million River City Casino in Lemay next week, will pay $2.5 million in rent to St. Louis County for the past year and $4 million in annual rent in the future.
The $2.5 million in rent covers May 1, 2009, to March 31, 2010, according to an amended development agreement with the St. Louis County Port Authority detailed in a regulatory filing Monday.
Starting April 1, 2010, Pinnacle has agreed to pay $4 million in annual rent or 2.5 percent of annual adjusted gross receipts, according to the filing.
Las Vegas-based Pinnacle plans to open the St. Louis area's seventh casino at 2 p.m. March 4. The casino is expected to employ more than 1,200 workers.
Pinnacle also owns Lumiere Place and the President Casino in downtown St. Louis.
