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Pinnacle Entertainment Dumps Belterra Expansion Plans
Pinnacle Entertainment
Thursday, May 10, 2007
INDIANA -- As reported by the Las Vegas Review Journal: "Plans by Indiana lawmakers to install slot machines at two racetracks near Indianapolis didn't sit well with Las Vegas-based Pinnacle
Pinnacle Entertainment Entertainment.
Pinnacle Entertainment Entertainment.
"The casino operator announced Tuesday during its first-quarter earnings report it was indefinitely postponing construction of a $45 million, 250-room hotel expansion at its Belterra casino due to the increased competition. Pinnacle executives said they would put the money into other company ventures.
"Belterra, which is Pinnacle's second-largest revenue producer behind the company's L'Auberge du Lac hotel-casino in Lake Charles, La., is located about two hours from Indianapolis, which is considered the property's third-largest feeder market behind Cincinnati and Louisville, Ky.
"Indiana is making plans to add 4,000 slot machines at the two Indianapolis racetracks...."
Pinnacle Entertainment
3800 Howard Hughes Parkway
Las Vegas, NV 89109
Las Vegas, NV 89109
| Pinnacle Entertainment owns and operates casinos in Nevada, Louisiana, Indiana and Argentina, owns a hotel in Missouri, and receives lease income from two card club casinos in the Los Angeles metropolitan area. Pinnacle also has two casino development projects in the St. Louis, Missouri area, which are dependent upon final approval by the Missouri Gaming Commission. |