Missouri Gaming Commission Selects Pinnacle Entertainment's Proposals
ST. LOUIS, (PRNewswire) September 2, 2004 - Pinnacle Entertainment, Inc. has announced that it has been selected by the Missouri Gaming Commission for priority investigation in connection with the Company's two casino and related development proposals for St. Louis City and County. The Commission's selection of Pinnacle followed the Company's selection by the City and County of St. Louis in competitive bid processes.
In an announcement, Daniel R. Lee, Chairman and CEO of Pinnacle Entertainment, said "With this selection, we will now accelerate the design process necessary to transform our concept drawings into reality. Barring any unforeseen complications in the investigation and development process, we would be eligible to receive our gaming licenses immediately prior to each property's opening, as is customary in most gaming jurisdictions. We have been pleased by the strong local support of both of our projects and the methodical and thorough selection processes at the City, County and State level."
For both of these casino projects, it is anticipated that construction will begin shortly after the Company receives all necessary building and land-use approvals. The Company hopes to receive such approvals for the City casino by Spring 2005, with an expected opening date approximately 18 months thereafter. For the County project, the Company expects to also begin site work in 2005 and open the facility in 2007.
The Company has proposed a $208 million downtown project in the City of St. Louis, including a 75,000-square-foot, 2,000 slot casino; a luxury hotel; retail space; and a large parking structure. As part of the agreement with the City, Pinnacle also intends to build (potentially with one or more development partners) an additional $50 million of residential housing, retail, or mixed-use developments in the City within five years of the opening of the casino and hotel.
In St. Louis County, Pinnacle has proposed a $300 million gaming and mixed-use project in the community of Lemay, located approximately 10 miles south of downtown St. Louis. The proposed development will be situated on approximately 56 acres of land leased from the St. Louis County Port Authority and will include a 90,000-square-foot, 3,000-slot casino; a 100-guestroom hotel; and extensive retail and entertainment space. An additional 24 acres will be developed into a public park and will include community and recreational facilities to be constructed by the Company. Because the County project requires extensive remediation of the former industrial site as well as construction of a new road and flood control measures, the company estimates that construction will take approximately one year longer than will be required for the City project.
Sigma-Aldrich Donates Lab Equipment to Area Schools and Universities
ST. LOUIS, (SLFP.com) September 2, 2004 - Sigma-Aldrich Corporation is donating over $1.5 million in laboratory equipment to area schools and universities. In keeping with its mission to lead in Life Science and High Technology, Sigma-Aldrich is giving the equipment to help expand and enhance science education and research opportunities for area students.
Major beneficiaries include the University of Missouri at St. Louis (UMSL), Saint Louis University (SLU), Harris-Stowe State College, St. Louis Public Schools, the Special School District, St. Dominic High School and the Donald Danforth Plant Science Center. Other recipients are Francis Howell School District, Christian Outreach School, Parkway School District, St. Raphael The Archangel School, and Althoff High School, among others.
Recipient schools chose their equipment from over 100 types of items, including stirrers, flasks, pipettes, gloves, textbooks, weighing scales, thermometers, pumps, tubes, timers, and other high-tech equipment. The equipment will be used in science programs and university research laboratories, and will arrive in time for use in the new school year.
"Science starts with inquisitive minds and we are pleased to be able to assist our schools and our community with some of the tools needed to pique them," stated Mike Hogan, Chief Administrative Officer and CFO at Sigma-Aldrich. "The St. Louis area is a global leader in the biotechnology field, and Sigma- Aldrich is eager to support the growth of our region as a hub for learning and research. This donation is just one more way of walking the talk on that pledged support."
National Brownfields Conference to be Held in St. Louis
ST. LOUIS, (SLFP.com) August 29, 2004 - The National Brownfields Conference will bring together stakeholders from the private sector, government agencies, and nonprofit organizations for a full three days of educational sessions and networking, September 20-22, at the America's Center in downtown St. Louis.
The international event is the official, EPA-and ICMA-cosponsored conference focused on redeveloping America's brownfield properties. Now in it's 9th year, Brownfields 2004 brings together stakeholders from the private sector, government agencies, and nonprofit organizations for a full three days of educational sessions and networking.
The U.S. Environmental Protection Agency (EPA) is the primary agency in the federal government's brownfields efforts and serves as the lead federal cosponsor of the annual brownfields cosponsor. The International City/County Management Association (ICMA) serves as the lead non-federal cosponsor and coordinates the efforts of many national, regional, and local organizations involved in planning the conference. Over thirty organizations will play important roles in making the conference a success.
Since 1999, more than $2.2 billion in new public and private financing has gone into the city's urban. Anchor investments like the $100 million renovation of Forest Park and hundreds of new urban lofts and apartments have been part of the ongoing revitalization of the city of St. Louis.
The conference's main focus is education and the Technical Program is considered the centerpiece of the conference, which will include more than 125 education and roundtable sessions with over 200 speakers. In addition to the Technical Program the conference includes: plenary sessions, mobile workshops, a major exhibit hall that will be home to more than 160 brownfield vendors, and numerous meetings and special events for networking.
Attendees will have an opportunity to listen to St. Louis Cardinals President, Mark Lamping discuss the new, $300 million stadium being built on a brownfield site in downtown St. Louis. Urban Land Institute fellow William Hudnut will kick off the conference with a keynote address on the importance of cities and urban revitalization. Visit the web site at www.brownfields2004.org to learn more about the brownfield redevelopment conference.
'You Drink & Drive, You Lose' Campaign Targets Labor Day Weekend Drivers
KANSAS CITY, (BUSINESS WIRE) August 26, 2004 - For many Americans, the Labor Day Holiday signals the last blast of summer fun: picnics, swimming, cookouts and final road trips. Unfortunately it also signals one of the most dangerous times to be on America's roadways.
During the 3-day Labor Day Holiday in 2003, there were 505 fatalities nationwide; 51% of which were alcohol-related. In the Heartland the statistics are even more alarming. Over Labor Day Weekend, in Kansas alcohol was a factor in 87% of the fatal crashes; in Missouri 52%; Iowa 73% and in Nebraska 67% of the fatal crashes were alcohol-related.
That's why law enforcement will be out in increased numbers throughout the Heartland and across the United States during the nationwide You Drink and Drive. You Lose. Crackdown from August 27 - September 12, 2004. Officers will be strictly enforcing all traffic laws, including those related to drunk driving. Motorists can expect the use of checkpoints and roving patrols in addition to standard enforcement methods.
This national crackdown is the first since all 50 States and the District of Columbia enacted .08 Blood Alcohol Concentration (BAC) laws for impaired driving. Uniform BAC laws strengthen the hand of law enforcement to arrest and prosecute dangerous drunk drivers to the fullest extent of the law. Additionally this is the first crackdown to take place during the Labor Day period to target the increased numbers of drunk drivers on the roads during the Holidays.
"Our message is simple and to the point," said Romell Cooks, Regional Administrator for the National Highway Traffic Safety Administration, Central Region. "You Drink and Drive. You Lose. Checkpoints, roving patrols and undercover officers will be out in force. So if you choose to drive while you are impaired you should expect to get caught. Furthermore, if you refuse a sobriety test you can lose your license on the spot and have your car impounded."
The National Highway Traffic Safety Administration (NHTSA) reports that 17,013 people were killed in alcohol-related crashes in 2003. This represents 40% of the 43,220 people killed in all traffic crashes. Cooks advises everyone to drive sober or to get a designated driver.
Statewide Ethanol Fuel Plan Offered for Missouri
ST. LOUIS, (PRNewswire) August 26, 2004 - Matt Blunt, candidate for Governor and Missouri's current Secretary of State, has announced his plan to implement a statewide auto fuel program utilizing 10 percent ethanol blended with gasoline during his first term if elected.
In a statement, Gary Marshall, CEO of the Missouri Corn Growers Association (MCGA), called the plan "innovative and forward thinking" and pledges the commitment of MCGA leaders to see the plan implemented as it will help the environment, lower fuel costs and boost Missouri's economy all by using ethanol made from corn.
Marshall said the plan is a win-win-win, for the environment, consumers and farmers. "Ethanol, produced from Missouri corn in farmer-owned ethanol production plants, is the right solution at the right time. Higher fuel prices are ravaging the wallets of average Missouri citizens - ethanol is the solution, providing additional liquidity to the market and reducing our dependence on foreign oil, which is nearing a record $50 per barrel due to terrorism and the volatility in Iraq and the Middle East.
Ethanol is viewed as a renewable fuel solution that could decrease harmful automobile emissions and ensure compliance with federal clean air law for Missouri's two largest cities, St. Louis and Kansas City.
"Missouri's farmers and rural areas are challenged with job losses, a declining tax base, variable prices for their production, and weather conditions - ethanol is the solution, providing an opportunity for Missouri farmers to create a homegrown product from their corn in farmer-owned ethanol plants which helps mitigate the inherent risks with farming and provides important jobs and economic development for our rural areas," stated Marshall.
Marshall believes the impacts of the proposal will be far reaching. "Matt Blunt's plan will allow Missouri's existing farmer-owned ethanol industry to expand, and could mean as many as two to three new plants in the future. Missouri's farmer-owned ethanol plants are processing 8 percent of Missouri's annual corn production, and in the future we could turn well over one-fourth of our annual corn crop into ethanol.
"That will mean: $300 million in new infrastructure to process and add value to our corn, and our farmers have already made about half that investment. The industry will also provide over 10,000 new jobs, and an additional $100+ million in local, county, state and federal tax revenues to help fund education, healthcare, and new roads, as well as over $1 billion in additional annual economic activity," stated Marshall.
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