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Riverboat for sale is former casino

Stuart B. Millner & Associates

(Above) A riverboat for sale on the Ohio River in Metropolis, Illinois. (Click on images to view larger versions.)

14-Jan-15 – Getting it to Chicago would be arduous – nothing great is easy and think of the adventure that would be, just getting it here – but a fully operational paddle wheel riverboat, used but with low mileage, is for sale on the Ohio River in southern Illinois.

An asset management company in St. Louis is selling the 20 year old, 260 foot long, 2200 ton, Coast Guard certified riverboat that was most recently a casino owned by Caesars Entertainment Corporation, formerly Harrah’s Entertainment, Inc.

The air-conditioned riverboat with 35,000 square feet of space has two 18-cylindar 2200-horsepower engines, two 1440-kilowatt generators, and a 3000-kilowatt backup generator.

Stuart B. Millner & Associates

(Above) Gamblers have abandoned ship, including the riverboat’s casino, seen here.

Harrah’s North Star moved to Illinois in 2001 from Kansas City. It was the centerpiece of Harrah’s Metropolis, part of a $67 million expansion that created 700 new jobs. Annual revenue from the riverboat peaked at $9.7 million in 2007 but slid to $4.2 million in 2014.

Last March, Harrah’s Metropolis announced it would convert to a land-based casino.

The price when it was new was $24 million but Stuart B. Millner & Associates announced on Tuesday it is “currently accepting offers on the vessel before making plans to sell it through an auction in March.”

 More info: Stuart B. Millner & Associates