More than 20,000 excited patrons packed the River City Casino in St. Louis, Mo., during its grand opening on Thursday. The casino, built by Pinnacle Entertainment, Inc. for $380 million, covers 56 acres and created 1,200 new jobs. As part of Pinnacle’s agreement with the city, it is required to complete another $75 million phase of the project within three years. Pinnacle’s regional vice president, Todd George, said he expects River City to take in about $17 million a month in gambling revenue, making it the third busiest casino in the St. Louis area.

Some industry analysts are concerned that the addition of a seventh casino in St. Louis will take away from business at nearby properties, but so far the market has been expanding. Missouri was one of a handful of states to see an increase in gambling revenue in 2009 despite the economic downturn. George says he hopes the new property will “grow the pie” and increase St. Louis’ appeal as a vacation destination for midwestern gamblers. Check out more here and here.

Source:Pokernews.com