President Casinos trust makes $9.5 million common stock distribution

By Caroline Salls

Pittsburgh, July 15 - President Casinos, Inc.'s liquidation trust has launched its first distribution to the company's former stockholders in an amount equal to $1.75 per share, according to a news release.

The total of the first liquidation distribution was $9.5 million. The distribution was made to President Casinos stockholders of record as of the close of business on Dec. 8, 2008, the release said.

The distribution is being made in accordance with the company's Chapter 11 plan of liquidation.

St. Louis-based President Casinos emerged from bankruptcy on Dec. 8, 2008.

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