Pinnacle Entertainment Stock Maybe Causing Layoff at Reno Casino

Pinnacle Entertainment has not had a good year. Their stock has declined by nearly fifty percent and it is causing problems for some of its casinos.

Boomtown has lost its truck stop and that coupled with yearly seasonal slowdowns, has cost twenty eight employees their jobs. The layoffs come as Boomtown's parent company, Pinnacle, is watching their stock plummet.

The truck stop that had employed some people was eliminated to make room for a new store, Cabela's. The layoff affected all areas of operation. The Supervisor of Hotel Operations, the Food and Beverage Manager, and the security Director, all lost their jobs.

In addition to the jobs lost, many other employees have had their hours reduced. That will almost certainly mean more people will quit and try to find full time jobs.

Pinnacle owns casinos all across the United States. they have properties in Indiana, Missouri, and Louisiana. They also have casinos that they operate in the Bahamas.

Although the company's stock price is down, they are not blaming the layoffs in this case to the stocks. It just so happens that the two events coincide. Only time will tell whether the companies other properties will also begin laying off employees.

February 16, 2008
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
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