River City Casino

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St. Louis County and Pinnacle Entertainment have settled a dispute over how much the River City Casino in south St. Louis County has been worth for the past three years.

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Updated at 5:20pm with comments from hearing, more details.

The board that hears appeals from St. Louis County taxpayers on the value of their home or business has reversed  its decision to reduce the value of River City Casino in Lemay.

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St. Louis County's assessor is assailing a board's decision to cut the assessed value of the county's two casinos in a move that will cost school, fire and other districts millions of dollars in tax revenue.

The St. Louis Post-Dispatch reports that the county's Board of Equalization assessed the value of Harrah's casino in Maryland Heights at $152 million. That's down $288 million from the county's assessment of it May.

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Will be updated

The region's newest casino is barely 18 months old, but plans are already under way for its expansion.

Pinnacle Entertainment announced today that it plans to add a 200-room hotel and 10,000-square foot event center at the River City Casino in south St. Louis County. The $82 million project also  includes a parking garage with 1,700 spaces.

via Wikimedia Commoms/RamblingGambler

The Missouri Court of Appeals has ruled that St. Louis County is not required to share revenue from a new casino with the Lemay Fire Protection District.

(Wikimedia Commons User RamblingGambler)

The St. Louis area's newest casino is falling short of revenue projections.
The St. Louis Post-Dispatch reports that the River City casino in south St. Louis County is now projected to generate slightly less than $8.2 million in its 10 months of operation this year, and a little less than $10 million in 2011.