Pinnacle Pays Residents To Change Address
Pinnacle Entertainment (PNK: 11.01 0.00%) has reportedly offered residents along a half mile stretch of Weber Road and Carondelet Blvd $500 to change their addresses.
The gaming company is just a few months away from opening its newest St. Louis casino, River City and approximately six months from being forced to close the President Riverboat casino along the Mississippi River.
City councilman Steve Stenger will introduce the measure to rename the portion of the roads “River City Casino Boulevard” at Tuesday’s meeting.
While Stenger has reassured residents that their situations would be taken into consideration, he stressed that, “We also have to weigh in the impact on the county, the impact of this enterprise to advertise itself.”
Of the five residents that would have to change their home addresses, two are opposed to the switch, one agreed and two haven’t returned their petitions.
In other Pinnacle news, 2009 fourth quarter and full-year financial results will be released on Friday, February 5, 2010 prior to the market opening.
PNK stock opened trading today at $8.15, down $0.08 from this months opening price of $8.23.
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