The appraised value of Harrah's Maryland Heights Casino is more than doubling for the second year in a row. St. Louis County Assessor Jake Zimmerman said Tuesday he was hiking the personal property tax value of the casino from about 150-million to almost 440-million dollars. That will make the total assessed value of the gambling operation about 500-million dollars.
Zimmerman says the expected sale of the casino to Penn National Gaming for 610-million dollars justifies the tax value increase. Penn National announced the sale in early May. As part of the deal the complex will be rebranded to Penn's Hollywood theme. The sale is expected to be complete by the end of this year. Harrah's St. Louis is located just off Interstate 70 near the Missouri River.