WJBD Radio

Images

Now Playing

Local News

WJBD - Local News - East St. Louis Casino Now Employee-Owned

East St. Louis Casino Now Employee-Owned

EAST ST. LOUIS, Ill. (AP) - The 700 employees of an East St. Louis casino now own the company.

The Casino Queen Hotel and Casino is operating as an employee stock ownership plan following approval last week from the Illinois Gaming Board. The $170 million acquisition creates a trust for the participating employees, who are eligible for shareholder dividends. The employees took on the casino's $31 million debt as part of the deal.

Casino President Jeff Watson says he knows of no other casino in the nation operating as an ESOP. The Casino Queen opened in 1993 along the riverfront in East St. Louis. It attracts nearly 2 million visitors a year.

See other LocalNews news:

Strong Winds Cause Minor Damage Across Region
Foot Chase Leads to Arrest of Salem Man on Multiple Charges
Centralia Man Arrested for Battery and Domestic Battery
Gunfire Leads to Two Arrests in Mt. Vernon
Centralia Man Hurt In Crash On Country Club Road and East McCord in Centralia




Loyal Listener Club

Club Login

Follow Us At

This Site logo