Pinnacle owns Admiral
Pinnacle Entertainment Inc. said Thursday that it has completed its purchase of President Riverboat Casino-Missouri Inc., which owns the President Casino on the Admiral. Pinnacle said in a statement that the "effective purchase price" was about $45.7 million, subject to adjustments. The President Casino is situated on the downtown riverfront. It is within walking distance of Las Vegas-based Pinnacle's Lumière Place development, which is expected to cost about $1 billion. That development, which is under construction and is scheduled to open next year, will include a casino, luxury hotel, spa, business center, restaurants and convention space.
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