Increasing Budget
Pinnacle Entertainment's Board of Directors has approved an increase in the scope and budget of the Company's casino resort in St. Louis, Missouri, which is currently under construction. The increase of the budget include funding for a nightclub, parking and site improvements, retail stores, and more.
The St. Louis gaming market has shown solid growth and the renewal of the downtown area has continued. These factors have added confidence to the investors of the new project. The downtown area also includes the Busch Stadium which is relatively close to the new site. The resort is expected to open and operate in the second half of 2007.
The budget was increased from $350 million to $430 million since it was initially set. The new budget of $430 million includes additional increases in the cost of construction materials and other factors.
Pinnacle Entertainment owns and operates many successful casinos all over the world. Their casinos are located in Nevada, Louisiana, Indiana, Argentina, and the Bahamas. The company also owns a hotel in Missouri and a casino site.
Pinnacle also has two casino development projects in the St. Louis, Missouri area, the wait for final approval by the Missouri Gaming Commission.
