Pinnacle Entertainment, the company that operates the Lumiere casino on Laclede's Landing, has announced plans to invest more than $11 million in several non-profit projects in downtown St. Louis.
The donations help the company fulfill part of its with the city, which was first drafted in 2004 and called for $50 million in investments by this December. They include:
- $5 million for the project, including better pedestrian access among a variety of entertainment districts. There is no mention of an to remove the elevated section of Interstate 70
- A $6 million donation to the planned for the new Mercantile Exchange development. It will serve as the foundational donation for the museum's soon-to-be launched final fundraising push, and allow construction to begin sooner than expected.
- A donation of land to the Great Rivers Greenway, the regional trail-building organization that would manage the revenue from a for the CityArchRiver project. The served as the parking lot for the old President casino, which was also a Lumiere property, and will help with GRG's plans to raise Lenore K. Sullivan Blvd. out of the floodplain.
- Pinnacle will pay $100,000 a year for the next five years for additional police presence in the area. The department will decide exactly how the money will be spent.
Mayor Francis Slay said in a statement that the donations once again demonstrate Pinnacle Entertainment's commitment to the city, and that he's grateful for the company's corporate citizenship. And that because of the language in the redevelopment agreement, the $11 million donations allow the company to meet its redevelopment agreements and avoid penalties.
