Pinnacle Granted Delay For Louisiana Casino Gambling Projects

In the same week that Trump Entertainment Resorts filed for bankruptcy, another casino company in the US received some good news. Pinnacle Entertainment was granted a ninety day delay in their building of two casinos in Louisiana.

The company told gambling regulators in Louisiana that they were in good shape as far as credit but that since the market had dried up they have had a tough time finding financing. The regulators were sympathetic to the company's wishes.

The company does not plan to fully stop the building of the casinos. In fact, they expect to receive permission in Lake Charles to begin driving piles for buildings. The expected completion date for the Lake Charles project has now been moved to July 30th of 2010.

In Baton Rouge the company is a little farther behind. They still have to present a construction contract. that was supposed to be done on Wednesday but will most likely now be pushed back. Pinnacle already runs one casino in Lake Charles.

Pinnacle has had a rough couple of months much like other casino developers. Already the company has land in Atlantic City that they have decided not to use for a casino. In Indiana expansion plans have been halted. They are hoping, however, that when the credit market loosens back up that they can complete some of these projects.

The news of the delay in Louisiana comes in the same week when Trump Entertainment Resorts announced that they are headed towards bankruptcy for the third time.

February 18, 2009
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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