FleaStiff
FleaStiff
Joined: Oct 19, 2009
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December 30th, 2012 at 6:27:42 AM permalink
From the Associated Press datelined EAST ST. LOUIS, Ill.

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.
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From CasinoCity.com:

Gaming Machines - 1,155 total
Dollar Slots, 170 machines
Five Dollar Slots, 35 machines
Half Dollar Slots, 28 machines
Nickel Slots, 86 machines
Progressive Slots - $0.25 to $5.00 bets
Progressive Video Poker - $0.25 to $5.00 bets
Quarter Slots, 259 machines
Video Poker, 236 machines - $0.05/.25/.50/.001/5.00 minimum bet
Table and Poker Games - 28 total
3 Card Poker, 2 tables
Blackjack, 15 tables - $2.00 to $2,000 bets
Caribbean Stud Poker, 1 table - $5.00 to $100 bets
Craps, 4 tables - $2.00 to $2,000 bets
Mini-Baccarat, 2 tables - $5.00 to $2,000 bets
Roulette, 4 tables - $0.25 to $100 bets

Restaurants and Bars
Deli & Chips - Fast Food - Sandwiches
Market Street Buffet - Buffet
Prime Steakhouse - Restaurant
Sevens - Restaurant

Casino Queen Hotel Contains 150 Standard Rooms and 7 Suites.
RV Parking (92 spaces)
PlayYourCardsRight
PlayYourCardsRight
Joined: Dec 29, 2011
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December 30th, 2012 at 7:29:23 AM permalink
I don't get to St. Louis much anymore, but I'd probably play there a little while knowing that it's the employees who have the stake and not a corporation.
winmonkeyspit3
winmonkeyspit3
Joined: Dec 30, 2011
  • Threads: 26
  • Posts: 451
December 30th, 2012 at 12:38:17 PM permalink
So supervisors and dealers will have to put on a show acting like they want you to win when really they want every dime from your pocket.
tringlomane
tringlomane
Joined: Aug 25, 2012
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December 30th, 2012 at 1:03:32 PM permalink
Crazy. I have went to the "Queen" once in the past couple of years. It's an okay place. The biggest drawback is it's in East St. Louis (where the Griswold family got lost in "National Lampoon's Vacation"). This biggest plus (for me) is that it is non-smoking and beer is cheaper than all of the Missouri casinos.
AxiomOfChoice
AxiomOfChoice
Joined: Sep 12, 2012
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January 1st, 2013 at 12:57:27 AM permalink
Quote: PlayYourCardsRight

I don't get to St. Louis much anymore, but I'd probably play there a little while knowing that it's the employees who have the stake and not a corporation.



It's still a corporation. A corporation us just a collection of people (shareholders). The only difference here is that all the shareholders work for the company.
FleaStiff
FleaStiff
Joined: Oct 19, 2009
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March 31st, 2013 at 8:06:30 AM permalink
Quote: winmonkeyspit3

So supervisors and dealers will have to put on a show acting like they want you to win when really they want every dime from your pocket.

No. All dealers and floor people will be sensible enough to know that long-term growth depends upon players getting a fair shake and winning from time to time. Its often said that when the Mob ran Vegas atleast they knew to let the players win from time to time. Its the MBA-ridden corporations that want to skin the player alive and leave his broken carcass and empty wallet for the carion eaters.

Attitudes are important in casinos. Sure location matters... but a smile and cheap beer go a long way too.
FleaStiff
FleaStiff
Joined: Oct 19, 2009
  • Threads: 265
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May 24th, 2013 at 5:31:01 AM permalink
Anyone have financial updates on this joint?

Just to let us know how "employee owned" balances with "Poverty Area".

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