BestCraps.com

Former Casino Riverboat Up for Sale

Posted on November 4th, 2010

News Sponsored by Online Vegas Casino

Rated 5 Stars by BestCraps.com

Read Review

Visit Casino

Download Software

————————————————

A riverboat that has withstood the ravages of time is docked right along the docks of the Mississippi River in St. Louis. But with the glitz and novelty of riverboats in the area which is currently serving a thriving gambling market, the old riverboat couldn’t seem to keep up. Thus, the sellers of the vessel are looking for ways to make it more relevant and up to par in function with the rest of the riverboats in the area. For now, it seems that they may have found a solution. The S.S. Admiral used to house The President Casino up until this summer. The boat is now on the market – but this time, not to attract gamblers. It is currently trying to attract buyers on various online auction sites like eBay. Its pitch is for any interested buyer to turn this relic into whatever they may think of – a convention area, a floating restaurant, or even a huge houseboat. After all, it measures 365 feet long by 95 feet wide.

The owner of one of the online auction companies trying to sell the boat, Virgil Straeter, said, “There’s just a ton of ways to do it. You could make a house of it, invite every relative you want and never bump into each other.” As of the moment, Straeter, whose auction company is based in Illinois, did not discuss how much the Admiral is worth. Currently touted as the largest inland entertainment vessel in the world, its listed price on eBay is $1.5 million. The boat, up until its closure as a casino, was recently owned by Pinnacle Entertainment, the gambling firm based in Las Vegas. Straeter was quick to point out, however, that the price listed on auction sites is a mere “suggestion.” As of the moment, the current owner of the boat could only be identified as a marine company that is privately owned and is based in the region. Straeter, who identified with Auction Associates, claimed, “The standard answer is that we’ll get all we can. It’s unique to itself, that’s for sure.”

November 10 is the deadline for those who want to submit bids through the online auction sites. If by the 10th, the sellers do not see any promising bid online, they will immediately conduct a live auction on the latter part of the day itself. Since its closing as a gambling facility, the boat has been stuck in the river. All gambling equipment that used to be inside it has been taken out. However, a number of functional luxury items, such as generators, backups, walk-in coolers, stove, steam tables, office furniture and crystal chandeliers are still present. The boat is so huge that there are still functioning elevators inside it. Uniforms from the former staff are also still in tow. The boat also contains a grand ballroom on one of its decks. You can also view panoramic sights in several observation decks that are enclosed. There is also a penthouse and the former gambling area, which is thousands of square feet, is now free space.

There are quite a number of things that need attention, though: Water cannot enter the vessel, although the hull under the water line needs repair. Moving the boat would require the new owner to buy new engines, as the old drives and diesel engines have already been removed since the last century. The boat has amassed a rich history. It was constructed in 1907, which means it is already more than a century years old. Its original purpose was to transport people across the Mississippi River. The first improvements to the boat were done in the 1930s when the boat’s length was added 70 feet.

It became one of the first casinos in the state of Missouri as The President was immediately opened when casino gambling was legalized in the state in 1993. With time, the boat became a victim of its location, age and size, and it became the region’s smallest casino. Floods made iot close temporary and Pinnacle itself built a casino in downtown St. Louis, Lumiere Place which sped up the President’s decrease in popularity. There is still no news whether any of the interested buyers would opt to convert the boat into yet another casino, which may of course, be a possibility.