The company was founded in 1991 by Pittsburgh millionaire John E. Connelly, who owned the Gateway Clipper Fleet and SS Admiral.
[1] On June 20, 2002, President Casinos filed for Chapter 11 bankruptcy.
On February 24, 2006, Pinnacle Entertainment announced that it would purchase the President Casino Laclede's Landing for $31.5 million.
It has sold all of its operations since declaring bankruptcy and as of February 2009 is making its final distribution of assets.
[2] The company lost several million dollars in unsuccessful attempts get gambling franchises in Pittsburgh, Philadelphia, New York City, New Orleans and the Catskill Mountains.