East St Louis Casino

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East St Louis School District 189
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Louis news, events, music, movies, restaurants, and reviews from Riverfront Times. Casino Queen 200 S. Louis, IL 62201 East St. Louis/ Cahokia 618-874-5000 www. Get directions, reviews and information for The Casino Queen in East Saint Louis, IL. 200 S Front St East Saint Louis IL 62201. 79 Reviews (618) 874-5000 Website. Casino in East Saint Louis on YP.com. See reviews, photos, directions, phone numbers and more for the best Casinos in East Saint Louis, IL. Casino Queen is just across the river from downtown St. The casino is clean and modern and the slot play is fun and fairly loose. They offer a full variety of gaming options, a full bar and a.

Casino Queen
Location	East St. Louis, Illinois
Address	2000 S Front St
Opening date	June 23, 1993
Total gaming space	38,000 sq ft (3,500 m²)
Casino type	Riverboat
Owner	Gaming and Leisure Properties
Operating license holder	Employee-owned management company
Coordinates	38°37′33″N90°10′34″W / 38.62583°N 90.17611°W
Website	CasinoQueen.com

The Casino Queen is a riverboat casino located near the Mississippi River in East St. Louis, Illinois, just across the river from downtown St. Louis. It is owned by Gaming and Leisure Properties and operated by an employee-owned management company.

History[edit]

The Casino Queen in 2006

Illinois enacted a riverboat casino law in 1990 authorizing licenses for ten casinos to open around the state.^[1] One of the licenses was guaranteed to East St. Louis, in an effort to help the financially troubled city.^[2]^[3] The group that would ultimately open the Casino Queen, led by real estate developer Bill Koman, submitted its proposal to the Illinois Gaming Board in January 1992.^[4] With no other proposals before the board, Koman's group was awarded the license in May 1992.^[5]

The Casino Queen opened on June 23, 1993.^[6] It was viewed positively by most city officials and residents, as the struggling city desperately needed both a revenue source and employment opportunities for its residents.^[7] Casino Queen originally operated on a boat called the White Star One.

Construction of a hotel began in 1998.^[8] The 157-room hotel, built at a cost of $15 million, opened in January 2000.^[9]

Changed regulations led to the casino to be moved inland, but still built above a shallow pit of water, in 2007. The move also allowed the casino to add 10,000 additional square feet of gaming space. In 2014, the White Star One was auctioned off and sold for $600,000.^[10] Casino Queen has generated over $160 million for the city of East St. Louis between 1993 and 2009.^[11]

In 2012, Koman and his partners sold the Casino Queen for $170 million to a newly formed Employee Stock Ownership Plan (ESOP), which would steer the casino's profits into the retirement accounts of participating employees.^[12] In 2014, to pay down debt taken on to finance the purchase, the ESOP sold the real estate of the Casino Queen to Gaming and Leisure Properties for $140 million, leasing it back for $14 million per year.^[13]^[14]

In 2020, the casino struck a deal with sports betting provider DraftKings to rebrand the property as DraftKings at Casino Queen.^[15] As part of the rebranding, Sevens sports bar will be gutted and re-built as a full sportsbook, and the casino will be integrated into DraftKings' mobile betting app.^[15]

Property information[edit]

The casino includes both 1,100 slots and 34 table games in its 38,000 square feet of gaming space.^[16] Per Illinois law and unlike neighboring Missouri casinos, it is not open 24 hours a day.^[17]

Dining options include: the Market Street Buffet, Prime Steakhouse, Sevens, and Deli & Chips.

East St Louis School District 189

Both a hotel and an RV Park are located on the Casino Queen property.

References[edit]

^Robert Kelly (February 8, 1990). 'Dice to be rollin' on the river'. St. Louis Post-Dispatch – via NewsBank.
^Kathleen Best (September 11, 1990). 'East side casino assured: E. St. Louis wins right to riverboat'. St. Louis Post-Dispatch – via NewsBank.
^Lynn Sweet (July 3, 1990). '10 vie for 5 riverboat gambling licenses'. Chicago Sun-Times – via NewsBank.
^'William Koman seeks license for casino boat in E. St. Louis'. St. Louis Post-Dispatch. January 3, 1992 – via NewsBank.
^Patrick E. Gauen (May 15, 1992). 'Illinois backs casino at E. St. Louis site'. St. Louis Post-Dispatch – via NewsBank.
^Margaret Gillerman (June 24, 1993). 'Casino Queen, a city's dreamboat, sails at last'. St. Louis Post-Dispatch – via NewsBank.
^Brett Pulley (21 July 1998). 'Casino Changes the Fortune Of a Hard-Luck Illinois City'. The New York Times. Retrieved 17 November 2019.
^'Mayor says hotel signals renewal of East St. Louis'. St. Louis Post-Dispatch. November 18, 1998 – via NewsBank.
^Denise Hollinshed (January 4, 2000). 'New hotel at Casino Queen opens for business with views of St. Louis skyline'. St. Louis Post-Dispatch – via NewsBank.
^Robert Patrick (4 April 2014). 'Old Casino Queen yields $600,000 at auction'. St Louis Post Dispatch. Retrieved 17 November 2019.
^'Gambling on the future of East St Louis'. Lindenwood University. Retrieved 17 November 2019.
^Tim Logan (December 28, 2012). 'Employee-owners hope to reverse Casino Queen's fortunes'. St. Louis Post-Dispatch. Retrieved 2020-07-26.
^Lisa Brown (December 10, 2013). 'REIT buying Casino Queen real estate for $140 million'. St. Louis Post-Dispatch. Retrieved 2020-07-26.
^'Gaming and Leisure Properties, Inc. closes acquisition of the real estate assets related to the Casino Queen in East St. Louis for $140 million' (Press release). Gaming and Leisure Properties. January 23, 2014. Retrieved 2020-07-26 – via GlobeNewswire.
^ ^a^b'In deal with sports wagering firm, Casino Queen rebrands as DraftKings at Casino Queen'. St. Louis Post-Dispatch. July 24, 2020. Retrieved 2020-07-24.
^'Casino Queen'. Clayco. Retrieved 17 November 2019.
^'IL Says Casino Queen Can't Stay Open 24 Hours'. St Louis Public Radio. Retrieved 17 November 2019.

External links[edit]

Retrieved from 'https://en.wikipedia.org/w/index.php?title=Casino_Queen&oldid=990297527'

EAST ST. LOUIS, Ill. (AP) — A Pennsylvania-based real estate investment trust will buy the Casino Queen’s real-estate assets in southwestern Illinois’ East St. Louis for $140 million, the two entities announced Monday.

Properties being bought by Gaming and Leisure Properties Inc. of Wyomissing, Pa., include the 38,000-square-foot, six-year-old casino, 157-room hotel and the park for recreational vehicles consuming much of a 78-acre tract.

The Illinois Gaming Board must approve of the sale, which is expected to be finalized early next year by Gaming and Leisure Properties, which last month was spun off by Penn National Gaming Inc.

As part of the deal, the employee-owned Casino Queen, including the casino that includes 27 gaming tables and 1,155 slot machines, will lease the property back from the Gaming and Leisure Properties for about $14 million a year. The Pennsylvania buyers also will provide Casino Queen with a $43 million term loan to refinance and retire Casino Queen’s outstanding long-term debt obligations.

“This is our first acquisition as a stand-alone company and is representative of the robust opportunities that exist in the gaming asset markets that our company is targeting,” Peter Carlino, Gaming and Leisure Properties’ chairman and chief executive, said in a statement.

Carlino said the Casino Queen, which in 2007 moved its gaming site inland from its longstanding place in a Mississippi River riverboat, said the purchase gives the Pennsylvania trust “a newly constructed asset with strong market share to our portfolio and further diversifies our operating partners, while strengthening our cash flow.”

The East St. Louis resort had roughly 1.7 million guests during the past year.