Search Query Show Search. News Topics. News Specials. Ways to Connect. Ways to Give. Show Search Search Query. Play Live Radio. Next Up:. Available On Air Stations. All Streams. Facebook Twitter LinkedIn Email. Pinnacle recently interviewed prospective workers to fill about 30 vacant jobs at Lumiere.
Louis Beacon archives Lumiere Place Gambling. Jo Mannies. Jo Mannies has been covering Missouri politics and government for almost four decades, much of that time as a reporter and columnist at the St. Louis Post-Dispatch. She was the first woman to cover St. She joined the St. Louis Beacon in She has won several local, regional and national awards, and has covered every president since Jimmy Carter. Washington, D. FORM 8-K. Eldorado Resorts, Inc. Exact Name of registrant as specified in its charter.
State or other jurisdiction. File Number. IRS Employer. Identification No. Reno, Nevada. Not applicable. Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:.
Entry into a Material Definitive Agreement. Master Lease. A default by Tropicana with regard to any facility will cause a default with regard to the entire portfolio. Term and renewals. The Master Lease provides for the lease of land, buildings, structures and other improvements on the land including barges and riverboats , easements and similar appurtenances to the land and improvements relating to the operation of the leased properties.
The Master Lease provides for an initial term of fifteen years with no purchase option. If Tropicana elects to renew the term of the Master Lease, the renewal will be effective as to all, but not less than all, of the leased property then subject to the Master Lease. Rental amounts and escalators. The Master Lease is commonly known as a triple net lease. Tropicana is making the rent payment in monthly installments.
Base rent. The base rent amount is the sum of:. Such adjustment is proportionate based on the actual revenue from such terminated leased property during the twelve months prior the commencement of the Master Lease as compared to the total revenues of all properties subject to the Master Lease over the same period. Percentage rent. The Master Lease has a variable percentage rent component that is adjusted every two years based on the actual net revenues of the leased properties during the two-year period then ended.
The actual percentage increase is based on actual performance and may change materially. Maintenance and capital improvements. Tropicana is required to make all expenditures reasonably necessary to maintain the premises in good appearance, repair and condition. Tropicana owns and is required to maintain all personal property located at the leased properties in good repair and condition as is necessary to operate all the premises in compliance with applicable legal, insurance and licensing requirements.
Tropicana is required to provide copies of the plans and specifications in respect of all capital improvements, which shall be prepared in a high-grade professional manner and shall adequately demonstrate compliance with the foregoing with respect to permitted projects not requiring approval and shall be in such form as GLP may reasonably require for any other projects.
Tropicana is required to pay for all maintenance expenditures and capital improvements, provided that GLP will have a right of first offer to finance certain capital improvement projects. Whether or not capital improvements are financed by GLP, GLP is entitled to receive Percentage Rent based on the net revenues generated by the new improvements as described above and such capital improvements are subject to the terms of the Master Lease.
Use of the leased property. Tropicana is responsible for maintaining or causing to be maintained all licenses, certificates and permits necessary for the leased properties to comply with various gaming and other regulations. Events of default. Remedies for an event of default. The Master Lease provides that any agreement with respect to the material debt of Tropicana or any guarantor under the Master Lease shall include a provision requiring the lenders under such agreement to provide GLP notice of any default by Tropicana or such guarantor, as applicable, under such agreement and provide GLP the opportunity to cure such default to the extent such default is curable by GLP.
Assignment and subletting. Except as noted below, the Master Lease provides that Tropicana may not assign or otherwise transfer any leased property or any portion of a leased property as a whole or in substantial part , including by virtue of a change of control of Tropicana, without the consent of GLP, which may not be unreasonably withheld.
In connection with certain assignments, the ultimate parent company of such assignee shall also execute a guaranty and shall be required to be solvent. New opportunities. Tropicana and GLP generally are not be prohibited from developing, redeveloping, expanding, purchasing, building or operating facilities. In addition, GLP may avail itself on the following terms of opportunities to purchase or refinance an existing facility whether built prior to or after the date of the Master Lease within the Restricted Area:.
Gaming licenses and all other assets necessary to operate the facilities that are subject to the Master Lease are held and maintained by Tropicana pursuant to the terms of the Master Lease. Louis RE and the. Louis RE. If the Replacement Property Transaction is not consummated at the maturity date, then the amounts outstanding will be paid in full and the rent under the Master Lease will automatically increase, subject to certain escalations.
However, no increase in rent will occur if the Replacement Property Transaction was not consummated as a result of certain failures to perform by GLP. Under certain circumstances, after the maturity date, the Company and GLP will have an obligation to use commercially reasonable efforts to enter into a Replacement Property Transaction. Supplemental Indentures.
Amendment to Credit Agreement. Amendment No.
We feel confident our actions are in the best interest of the state of Missouri. Pinnacle also told the commission that it had several prospective buyers for Lumiere Place hotel and casino complex in downtown St. The commission has to conduct a background check and approve any buyer of Lumiere.
A commission spokeswoman said that Pinnacle indicated that the sale could take place within weeks. The agreement, completed late last year, also calls for the casino owner to subsidize extra police stationed around the Lumiere property for five years. A spokeswoman for St. Louis Mayor Francis Slay said in a recent interview that most of the money and property already has been distributed. Charles and Kansas City, a commission spokeswoman said.
Pinnacle also owns River City in Lemay. Business at all of Missouri's casino operations has, overall, been flat or shown only a slight increase during the past couple years. Send questions and comments about this story to feedback stlpublicradio. Search Query Show Search. News Topics. News Specials. Ways to Connect.
Ways to Give. Show Search Search Query. Play Live Radio. Next Up:. Available On Air Stations. Overall the company will control 60 properties in 16 states, including Caesars Palace in Las Vegas. The Boonville casino employs about people and is responsible for 17 percent increase in taxable retail sales since The company said in November that it expected no major changes due to the merger.
When Eldorado and Caesars announced the merger in June, antitrust concerns arose from the fact that the company would have owned six of 13 licensed casinos in the state. With the commission's approval, the parties are expecting to close the deal Friday, said Peter Hoetzinger, co-ceo of Century Casinos.
News Topics. News Specials. Ways to Connect. Ways to Give. Show Search Search Query. Play Live Radio. Next Up:. Available On Air Stations. All Streams. Louis on the Air. Photo courtesy of Pinnacle Entertainment. Tags St. Stay Connected. Sarah Fenske. Sarah Fenske joined St. Louis Public Radio as host of St. Louis on the Air in July The ban forced thousands of casinos to sell their slot machines at steep discounts to whatever customers they could find. Some of those cut-rate slots wound up in the hands of counterfeiters eager to learn how to load new games onto old circuit boards.
By early , casinos throughout central and eastern Europe were logging incidents in which slots made by the Austrian company Novomatic paid out improbably large sums. Recognizing those patterns would require remarkable effort. Slot machine outcomes are controlled by programs called pseudorandom number generators that produce baffling results by design.
Government regulators, such as the Missouri Gaming Commission, vet the integrity of each algorithm before casinos can deploy it. Because human beings create them using coded instructions, PRNGs can't help but be a bit deterministic. A true random number generator must be rooted in a phenomenon that is not manmade, such as radioactive decay. The seeds are different at different times, for example, as is the data culled from the internal clocks.
The Lumiere Place scam showed how Murat Bliev and his cohorts got around that challenge. By interviewing colleagues who had reported suspicious slot machine activity and by examining their surveillance photos, he was able to identify 25 alleged operatives who'd worked in casinos from California to Romania to Macau. The man, a Russian national, was not indicted; his current whereabouts are unknown.
The cell phones from Pechanga, combined with intelligence from investigations in Missouri and Europe, revealed key details. According to Willy Allison, a Las Vegas—based casino security consultant who has been tracking the Russian scam for years, the operatives use their phones to record about two dozen spins on a game they aim to cheat. They upload that footage to a technical staff in St. Finally, the St. He made two more trips to the US in , the second of which began on December 3.
The quartet planned to spend the next several days hitting various casinos in Missouri and western Illinois. Bliev should never have come back. Louis, the four scammers were arrested. Because Bliev and his cohorts had pulled their scam across state lines, federal authorities charged them with conspiracy to commit fraud. The indictments represented the first significant setbacks for the St. Petersburg organization; never before had any of its operatives faced prosecution.
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