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:

Cardinal George: Doctors Have 'Run out of Tricks' for Him
'Right to Try' Bill Would Give Access to Experimental Drugs
KC President Dishes Out Own Cash to Help Ag Program
Kaskaskia to Hold Mardi Gras Celebration
Republican Party Lincoln Day Dinner to Feature Lincoln Himself




Loyal Listener Club

Club Login

Follow Us At

This Site logo