this place is a mess, they really need to get their sh*t together.
Moorlander wrote:this place is a mess, they really need to get their sh*t together.
What are you talking about?
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I mean the place is a mess, and they need to get their sh*t together. 
Is that in reference to all of the shoes and basketballs floating around the place?
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JMStokes wrote:
Tables were all crowded, slots less so, but there were many many people gambling. I thought we were in a recession?
3 things go up in a recession:
Gambling
Booze
Prostitutes
All for obvious reasons. At least, they should be obvious.
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bprop wrote:The gambling part isn't true at least. It's an urban myth.
But a lot of casinos are in rural areas or small towns. Do they do better in a recession or would that a "rural myth"? Maybe a "suburban myth"? Or a "small town myth"?
Grover wrote:bprop wrote:The gambling part isn't true at least. It's an urban myth.
But a lot of casinos are in rural areas or small towns. Do they do better in a recession or would that a "rural myth"? Maybe a "suburban myth"? Or a "small town myth"?
Only urban casinos are covered by the myth.
The Post reported today that revenue last month at Lumiere was up 21% compared to the same period last year. Good news for Downtown, bad news for the Casino Queen.
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^I'd rather have the tax revenue, and associated hotel/misc. spending on our side of the river. Good stuff.
You think that it would help convince the gaming commission and state politicians that keeping the two casinos downtown matters. I know the hope is to keep an art deco boat. However, I think another casino operator taking over the President's license and required to build a comparable competitive facility in Laclede's Landing would be the best move.
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I've been reading this thread and all others devoted to Lumiere. I'm still waiting for the aggressive phase 2 project. It will be great to see that sometime soon as well.
I hope the plans for the President casino don't destroy Lumiere p2.
I hope the plans for the President casino don't destroy Lumiere p2.
Does anyone know if Phase 2 is still going to happen or has that been scratched?
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Pinnacle has nothing to gain and a lot to lose if they were to follow through with phase 2. Its just a shame that the Mississippi Nights area was bulldozed foe a surface parking lot.
I don't think their conceptual plan for Phase II is a bad proposal. Can still picture the display model in the baggage claim of the East Terminal every time I came back from a business trip on Southwest Airlines.
The reality is that phase II is new condos/retail, Pinnacle is a casino company and the economy has pretty much stalled every new construction project downtown from BPV, to Washington Skyhouse, to Bottle District while rehabs are cheaper and investors have optimized tax credits. In time, I believe we will see some new development like Phase II if we can follow through with Downtown Next plan, Arch grounds design finally embraces the removal of I-70 downtown, and we land a China Air Cargo hub to spur significant/sustainable growth for the region. However, it is going to take a decade.
The reality is that phase II is new condos/retail, Pinnacle is a casino company and the economy has pretty much stalled every new construction project downtown from BPV, to Washington Skyhouse, to Bottle District while rehabs are cheaper and investors have optimized tax credits. In time, I believe we will see some new development like Phase II if we can follow through with Downtown Next plan, Arch grounds design finally embraces the removal of I-70 downtown, and we land a China Air Cargo hub to spur significant/sustainable growth for the region. However, it is going to take a decade.
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http://www.971talk.com/Airstaff/Boyd.aspx
4.25.10 Interview with the 2 pinnacle property gm's, new 4seasons gm, and discuss Steve Wynn's visit and property expansion.
4.25.10 Interview with the 2 pinnacle property gm's, new 4seasons gm, and discuss Steve Wynn's visit and property expansion.
regarding additional $50 million investment requirement
Per the Pinnacle 2009 Annual ReportIn connection with our LP project...our commitment commits us to oversee the investment of $50million in residential, housing, retail or mixed use developments in the city within 5 years from LP opening. Total cost must be $50 million however our requirement can be substantially less, as such projects may be developed in partnership with others. If we and our development partners collectively fail to invest $50 million we would be obligated to pay a fee of $1million in January 2013, $2million in Jan 2014, and $2million annually there after.
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Easy solution: Have LP help finance BPV!!!! Does Pinacle need a new corporate headquarters????
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I very much appreciate that sentiment in luring another publicly traded company to StL, but who really knows if that could ever happen. I haven't heard any discussion as to Pinnacle seeking a new HQ or corporate relocation.Chaifetz10 wrote:Easy solution: Have LP help finance BPV!!!! Does Pinacle need a new corporate headquarters????
Mostly, I have to second Dredger's comments above, in that the destruction of the housing bubble knocked the legs out of the credit markets and through them new construction, leading to the continued delays in BPV, the cancellation of Skyhouse, and the assorted other project stalls. While I believe the Lumiere Phase II project could again be viable as initially demonstrated, I don't think it could actually happen for, optomistically, two or more years.
Or: The national economy, and almost the international markets as a whole, have just had a "hard reboot" for the messes we've made in the housing bubble. While a project was recently considered viable, that doesn't mean it's that way today. For such projects as Phase II to occur, we must be patient; otherwise, we must seek alternate developments. Especially with the continued growth of the Downtown housing market primarily through historic rehab, I see opportunities for new developments rising after the historic rehab opportunities are nearing exhaustion of implementation.
That said, I'd be happy as a pig in slop if Pinnacle were to announce Phase II or other like developments, but if not, I'll take the payment of penalties for non-development. Sure they may not like it, but it may be the better option for keeping their corporate books looking good. And, I see them keeping their word, as these pledges were made in good faith and had Pinnacle assuming the business risks associated with the agreements they made.
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By the way, the Lumiere Place GM was just on the radio saying that she's surprised that more people don't use the "people mover" tunnel to get to the casino.
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Good news for St. Louis
Tuesday, July 13, 2010, 5:59am CDT
St. Louis Four Seasons named world's best
For the first time, the Four Seasons Hotel St. Louis has made Travel & Leisure's "World's Best" list, ranking No. 19 among the top 50 large hotels in the United States and Canada.
http://stlouis.bizjournals.com/stlouis/ ... rround=lfn
Tuesday, July 13, 2010, 5:59am CDT
St. Louis Four Seasons named world's best
For the first time, the Four Seasons Hotel St. Louis has made Travel & Leisure's "World's Best" list, ranking No. 19 among the top 50 large hotels in the United States and Canada.
http://stlouis.bizjournals.com/stlouis/ ... rround=lfn
Here's the T&L list of Top 50 Large City Hotels in US/Canada (100 rooms or more)
http://www.travelandleisure.com/worldsb ... -canada/34
http://www.travelandleisure.com/worldsb ... -canada/34
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I thought lists like this were meaningless?