Casino Choice UK News Archive
President paying a kings ransom for parking
The President Casino in St. Louis says it is being charged an extraordinary $25 per car by Columbia Sussex Corp, who own the Cherrick parking lot on Laclede’s Landing used by customers at the casino. Only a few weeks previously, in mid-December, the price was $1.5.
The debate over the lot has now reached fever pitch. Columbia Sussex Corp. says the price hike is aimed at forcing the President into buying the lot. The President on the other hand says it wants to do just that. The problem, they claim, is that the city is threatening to condemn the lot, apparently to make way for a $400 million casino complex built by the President’s rivals – Pinnacle Entertainment Inc.
So long as the threat of condemnation hangs over it, the President says it cannot purchase the lot. The President has its back up against the wall – the company is already bankrupt, and now due to the extortionate prices being charged by Colombia Sussex Corp. it has had to find alternative parking for its customers. It claims its current arrangement using the Mississippi River frontage is simply not feasible.
The debate over the lot has now reached fever pitch. Columbia Sussex Corp. says the price hike is aimed at forcing the President into buying the lot. The President on the other hand says it wants to do just that. The problem, they claim, is that the city is threatening to condemn the lot, apparently to make way for a $400 million casino complex built by the President’s rivals – Pinnacle Entertainment Inc.
So long as the threat of condemnation hangs over it, the President says it cannot purchase the lot. The President has its back up against the wall – the company is already bankrupt, and now due to the extortionate prices being charged by Colombia Sussex Corp. it has had to find alternative parking for its customers. It claims its current arrangement using the Mississippi River frontage is simply not feasible.
Submitted: 2006/01/06 at 10:27:47
