Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Winnings by key casino investors Some previous owners of the Casino Queen, in East St. Louis, collected more than $46 million from the casinos sale last month to its employees through an employee stock ownership plan. The Queen had been owned by private investors, including members of the Koman family, in the St. Louis area. Other owners included members of the Bidwill, Kenny and Rand families in Chicago and Las Vegas casino operator Michael Gaughan. Some of those investors got a total of nearly $46.3 million as part of the $175 million sale, according to a filing this week with the Securities and Exchange Commission. Sharing in the proceeds are Jim Koman, Charles Bidwill III and Timothy Rand; as directors on the casinos board, the three were required to list the amount that they received in aggregate. Illinois gaming regulators approved the Queens sale. The sale included the assumption of $31 million in current debt. (Tim Bryant)

Mo. tax refund on debit card For the first time, taxpayers this year may receive their Missouri state income tax refunds on a debit card, State Treasurer Clint Zweifel announced Friday. The move may save money for taxpayers without bank accounts who would otherwise use a check cashing service. Taxpayers can use the card free for purchases wherever Visa is accepted. It can be used free as an ATM card at MoneyPass, UMB and Chase ATMs. Charges may apply at other ATMs. JPMorgan Chase, the bank that issues the debit cards, will charge a fee if money remains on the card after 18 months. To receive the card, check the debit card box on the refund line of the state income tax return. After the card is received, taxpayers must activate it by phone or internet, and set up a PIN number. Taxpayers may also receive refunds in the form of paper checks or direct deposits to their bank accounts. …

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