Pinnacle Plunks Down Big Investment on Downtown Projects

Photo courtesy of Creative Commons

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.”

Read more on St. Louis Post-Dispatch.

Tags:, , , , ,

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students

Learn more