Crazy Time: River City Casino is one of the premier gaming and entertainment destinations in the St. Louis, Missouri area. With its vibrant atmosphere, expansive gaming floor, multiple dining options, and upscale amenities, River City Casino has established itself as a key player in the Midwestern casino market. But behind the glitz and glamour lies a complex ownership and management structure. This article explores who owns River City Casino, how it is operated, and what its future may hold.
Background of River City Casino
River City Casino opened its doors on March 4, 2010, in the south part of St. Louis. The casino was originally developed by Pinnacle Entertainment, a gaming company that owned and operated several casinos across the United States. The property was built with a focus on regional flair, themed after the 1904 St. Louis World’s Fair, and featured local cuisine, music, and architecture.
Initial Investment: Over $380 million was invested in the construction and development of the River City Casino complex, which includes a casino floor, restaurants, bars, an event center, and a hotel added later.
Ownership Timeline
To understand who owns River City Casino today, it’s important to trace the ownership changes over time. Below is a table summarizing the ownership timeline.
Table 1: Ownership Timeline of River City Casino
| Year | Owner / Entity | Notes |
|---|---|---|
| 2010 | Pinnacle Entertainment | Original developer and operator of the casino. |
| 2016 | Gaming and Leisure Properties, Inc. (GLPI) | GLPI acquired the real estate assets of Pinnacle, including River City. |
| 2018 | Penn National Gaming (Now PENN Entertainment) | Took over operations of River City Casino through a lease with GLPI. |
Current Ownership Structure
Today, River City Casino operates under a landlord-tenant model that is common in the casino industry.
3.1. Real Estate Owner: Gaming and Leisure Properties, Inc. (GLPI)
GLPI is a real estate investment trust (REIT) that specializes in casino properties. It was spun off from Penn National Gaming in 2013. As a REIT, GLPI owns the physical property of River City Casino — including the building and land — but does not operate the casino itself.
Key Facts about GLPI:
| Category | Details |
|---|---|
| Full Name | Gaming and Leisure Properties, Inc. |
| Type | Public REIT |
| Stock Ticker | GLPI (NASDAQ) |
| Headquarters | Wyomissing, Pennsylvania |
| Role with River City | Landlord / Property Owner |
3.2. Operator: PENN Entertainment, Inc.
PENN Entertainment (formerly Penn National Gaming) leases River City Casino from GLPI and operates all its gaming and hospitality activities. PENN is responsible for the day-to-day operations including casino games, hotel management, food and beverage, marketing, and employment.
Key Facts about PENN Entertainment:
| Category | Details |
|---|---|
| Full Name | PENN Entertainment, Inc. |
| Formerly Known As | Penn National Gaming |
| Type | Public Company |
| Stock Ticker | PENN (NASDAQ) |
| Headquarters | Wyomissing, Pennsylvania |
| Role with River City | Operator / Tenant under GLPI lease |
Business Model: Leaseback Arrangement
GLPI and PENN use a common casino industry financial model known as a triple-net lease (NNN). Under this structure:
- GLPI owns the property and collects rent.
- PENN operates the casino and is responsible for all property-related costs, including maintenance, taxes, and insurance.
This model benefits both companies:
- GLPI receives stable, long-term rental income.
- PENN avoids owning large real estate assets and focuses on operations.
River City Casino Overview (2025)
To give a snapshot of River City Casino as it stands today, here’s a breakdown of its core features.
Table 2: River City Casino Highlights (2025)
| Feature | Description |
|---|---|
| Location | Lemay, St. Louis County, Missouri |
| Gaming Floor Size | Over 90,000 square feet |
| Slot Machines | Approximately 2,000 |
| Table Games | Over 50 (including blackjack, poker, craps) |
| Hotel Rooms | 200+ rooms and suites |
| Restaurants | 5+ (including steakhouses, buffets, bars) |
| Ownership (Real Estate) | GLPI |
| Operator (Casino) | PENN Entertainment |
Strategic Importance
River City Casino is a strategically important property for both GLPI and PENN due to its:
- Strong market presence in the St. Louis region
- Steady customer base
- Diversified revenue from gaming, events, and hospitality
Future Outlook
With the casino and hospitality industry rebounding post-pandemic, River City Casino is likely to continue receiving investments in entertainment offerings, technology upgrades, and guest experiences. PENN’s digital initiatives — such as integration with its mychoice® rewards app and potential online gaming in legal states — could also play a role in expanding its customer engagement strategy.
River City Casino is owned by Gaming and Leisure Properties, Inc. (GLPI) and operated by PENN Entertainment, Inc. This ownership structure allows each company to specialize in what they do best: GLPI in real estate investment, and PENN in gaming operations. As the casino industry continues to evolve, River City Casino remains a key regional player with a solid foundation and potential for future growth.
