Business Services Industry
Columbia Sussex's deal for President Casino gets court approval in Missouri.
Knight Ridder/Tribune Business News, October, 2004
By Christopher Carey, St. Louis Post-Dispatch Knight Ridder/Tribune Business News
Oct. 14--A bankruptcy judge has approved the sale of the President Casino on the Admiral to Columbia Sussex Corp., which plans to put a new casino and entertainment venue on the Laclede's Landing site.
The deal, for $57 million, is still subject to approval by the Missouri Gaming Commission.
"We're happy with the way things worked out," Joseph Yung, director of development for Columbia Sussex, said after a court hearing Wednesday in St. Louis.
Columbia Sussex outbid two rivals, Penn National Gaming Inc. and Pinnacle Entertainment Inc., at an auction last week.
Judge James J. Barta said the sale would produce an almost ideal outcome,...
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