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Struggling Illinois Casino Sold To Employees

Casino Queen Bought For $170 Million By Those Who Run It

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Photo via Facebook.

A casino in Illinois is now in the hands of those who run it, the St. Louis Post-Dispatch reported.

Investors were reportedly looking to get away from the struggling Casino Queen and sold it off to its employees for $170 million through an employee stock ownership plan.

The Post-Dispatch reported that most employees will be able to participate.

“It allows employees to become beneficial owners in the company,” the casino’s general manager and president told the paper. “The more successful the company is, the more value employees have individually in their retirement accounts.”

The Casino Queen is located right next to the Missouri-Illinois border near St. Louis.

 
 
Tags: Illinois,   Casino,   Debt,   Gaming,   Gambling
 
 

Comments

bparmalee
over 1 year ago

Should read: Casino investors find suckers to take over dying casino and they didn't have to look far. A little note to these employees.... people will climb over dead bodies to run a casino and these guys are selling one to you. That should tell you something.... start looking for a new job.

 
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