Pinnacle granted 90-day delay on casino projects

The Louisiana Gaming Control board has granted a three-month delay for Pinnacle Entertainment to present details of two casinos it plans to build in Louisiana. Pinnacle says one of the casinos will be located in Baton Rouge, the other in Lake Charles.

The company says it intends to complete both projects, but needs the 90-day delay because of trouble in the capital markets. The company says trouble in the capital markets has prevented it from borrowing money at reasonable rates.

The Baton Rouge casino, to be named the Riviere, was originally proposed as a USD 250 million complex to include a casino and hotel.