A deal to sell the President Casino on the St. Louis riverfront has fallen apart. Columbia Sussex Corporation had offered $57-Million to President Casino, which is on the old riverboat Admiral. Columbia Sussex has withdrawn its application for a casino license from the State Gaming Commission. The President Casino is in bankruptcy. Columbia Sussex had planned to scrap the Admiral and install a new casino looking more like an old-time riverboat. Nobody’s giving a reason for the collapse of the deal but documents file din bankruptcy court say the State Gaming Commission staff had advised the Commission not to issue a license. President Casinos says it considers the move a breach of the sale contract.
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