President Casino, Pinnacle Entertainment Inc.’s (NYSE: PNK) riverboat gaming property in downtown St. Louis, is cutting back its hours of operation to compensate for the continuing financial losses at the property.
The new schedule will reduce the hours of operation by 30 hours a week, said Mack Bradley, a spokesman for the casino.
The President Casino said Tuesday it also plans to close its poker room location on the C-deck.
President Casino notified the Missouri Gaming Commission of the proposed new operating plan, which would take effect Dec. 1.
The repeated closures of the President Casino in 2008 due to Mississippi River flooding, along with the economic environment, forced the casino to change its hours, said Chris Strobbe, the casino’s general manager.
Pinnacle reported a third-quarter net loss of USD 11.8 million, or 20 cents per share, compared to a profit of USD 5 million, or 8 cents per share, in the same period last year.
The current hours are 8 a.m.-4 a.m., Monday through Thursday, then 8 a.m. Friday until 4 a.m. Monday.The proposed schedule is:
- Table games: Closed Monday, Tuesday, Wednesday; 10 a.m.-2 a.m. Thursday; 10 a.m.-5 a.m. Friday and Saturday; and 10 a.m.-2 a.m. Sunday.
- Slots and other electronic gaming devices: 10 a.m.-2 a.m. Monday, Tuesday, Wednesday and Thursday; 24-hour gaming Friday and Saturday until closing at 2 a.m. Sunday. Lumière Place, Pinnacle Entertainment’s other casino in downtown St. Louis that opened in December 2007, will not be affected by the new operating plan.