When Pinnacle Entertainment won the city’s blessing in 2004 to build its glitzy Lumière Place casino on Laclede’s Landing, it pledged to invest in $50 million worth of downtown real estate.
It made good on that pledge Tuesday — in a manner of speaking.
City officials and the Las Vegas-based casino company have agreed on a series of investments in downtown projects that will, said development chief Rodney Crim, “extinguish” Pinnacle’s responsibilities to the city.
The investments include:
• A $6 million contribution to the National Blues Museum being built on Washington Avenue.
• A $5 million donation over three years to CityArchRiver for improvements to the Gateway Arch grounds.
• Donating to Great Rivers Greenway a riverfront parking lot for which Pinnacle paid $7 million.
• Donating $500,000 over five years to the St. Louis Police Department to fund “supplemental police activities,” potentially “hot-spot policing.”