Pinnacle Entertainment

The President Casino, Pinnacle Entertainment's riverboat gaming property in downtown St. Louis, laid off 75 of its 400 employees late last month, according to a notice that Pinnacle sent the city of St. Louis. Some of the affected employees transferred to Pinnacle's Lumire Place casino nearby, but others have to find new work, St. Louis Mayor Francis Slay wrote on his blog recently. A request for comment from Pinnacle was not immediately returned. Recently, the President Casino cut its operation by 30 hours a week to off-set the continuing financial losses at the property. Repeated closures of the President Casino due to flooding, along with the economic environment, forced the casino to change its hours, said the casino's general manager. The casino is also considering moving near the Chain of Rocks Bridge on the north edge of the city of St. Louis to get away from flooding, which forced the business to close three times for a total of 45 days this year. The casino has also suffered from increased competition from nearby Lumire Place and Casino Queen in East St. Louis, Ill. Las Vegas-based Pinnacle Entertainment Inc. owns and operates casinos in Missouri, Nevada, Louisiana, Indiana and Argentina.