Who Owns River City Casino? A Look at the Owners Past and Present
If you’ve ever wondered who owns River City Casino, you’re not alone. This popular casino, located in St. Louis, Missouri, has gone through several ownership changes since it first opened its doors. These changes have led to controversies, financial successes, and a unique identity. In this article, we’ll take an in-depth look at River City Casino’s owners past and present. We’ll analyze their impact on the casino, explore any scandals or legal entanglements related to the ownership, and provide an overview of the casino’s financials.
The History of River City Casino Ownership
River City Casino was first opened in 2010 under the ownership of Pinnacle Entertainment. Pinnacle was a Las Vegas-based company that owned several casinos throughout the United States. River City Casino was one of their flagship properties and quickly became a popular destination for those seeking gambling, dining, and entertainment.
In 2013, Pinnacle Entertainment sold River City Casino to Penn National Gaming for $610 million. Penn National Gaming was a Pennsylvania-based company that owned over 20 casinos throughout the United States. They continued to operate River City Casino as Pinnacle had, with little change to the casino’s branding or business strategy.
In 2019, Penn National Gaming sold River City Casino to Gaming and Leisure Properties, a real estate investment trust that specializes in gaming properties. Gaming and Leisure Properties then leased the casino to Penn National Gaming, who continued to operate it under their branding. This ownership structure remains in place today.
Behind the Scenes: An Inside Look at River City Casino’s Owners
Now that we have a brief history of River City Casino’s ownership changes, let’s take a closer look at the current owners. Gaming and Leisure Properties is the primary owner of the casino, but they lease it to Penn National Gaming, who operates it. Gaming and Leisure Properties is a publicly traded real estate investment trust that specializes in acquiring and leasing gaming properties. They own several other casinos throughout the United States, including another casino in Missouri.
Penn National Gaming, as mentioned earlier, is a Pennsylvania-based company that owns and operates over 20 casinos in the United States. They have been operating River City Casino since 2013 and have been successful in growing the casino’s profits and revenue.
River City Casino Ownership: Past and Present
When comparing past and current ownership of River City Casino, different owners have definitely had different impacts on the casino. Pinnacle Entertainment, River City Casino’s first owner, was a larger company that owned several other casinos. They focused on creating a consistent brand across their properties and emphasized the importance of customer experience.
When Penn National Gaming took over, they maintained the casino’s branding and focus on customer experience. They did, however, invest in more marketing and advertising to bring in new customers.
Under Gaming and Leisure Properties’ ownership, there has been little change to the branding or marketing focus of River City Casino. Instead, their focus has been on maintaining the property and its profitability.
The Financials Behind River City Casino
As we mentioned earlier, River City Casino has been a financial success for all of its owners. In 2019, the casino pulled in $163 million in revenue, with an operating income of $51 million. These numbers have been increasing steadily since the casino first opened its doors in 2010.
In addition to its profits, River City Casino has several investment partners. The casino’s debt holders include Wells Fargo, Bank of America, and JP Morgan Chase.
Controversies Surrounding River City Casino Ownership
While River City Casino has been financially successful under all of its owners, there have been some controversies related to its ownership history. One of the most significant controversies occurred under Penn National Gaming’s ownership, when the company paid a $2.8 million fine for failing to prevent money laundering at several of their casinos, including River City Casino. This scandal tarnished the casino’s reputation, but Penn National Gaming was able to bounce back.
Ownership Changes and the Impact on River City Casino
Despite ownership changes, River City Casino has maintained a consistent focus on customer experience and profitability. The casino has been successful under all of its owners and has remained a popular destination for those seeking gambling, dining, and entertainment in the St. Louis area. It’s unclear what the future holds for River City Casino’s ownership structure, but it’s safe to say that the casino will continue to thrive under any new owners that may come along.
Conclusion
In conclusion, River City Casino has gone through several ownership changes since its inception in 2010. Each owner has had a different impact on the casino’s identity, brand, and focus. Despite some controversies related to ownership, the casino has remained financially successful and continues to be a popular destination for those seeking entertainment in the St. Louis area. If you encounter any ownership issues with River City Casino, we recommend reaching out to their customer service team for assistance.