Pinnacle and Harrahs plan to Exchange Damaged Casinos

Pinnacle Entertainment Inc. will get what's left of Harrah's Entertainment Inc.'s Lake Charles casino complex in Louisiana, while Harrah's will take over what's left of Casino Magic in Biloxi, Miss., under a deal announced Wednesday. Las Vegas-based Pinnacle said it would use one of Harrah's two dockside riverboat license to add a second casino to its L'Auberge gambling resort in Lake Charles, which has been a major hit with players since its opening a year ago, becoming the top revenue-garner among Louisiana's 12 riverboats.

The company would not specify where it would use the other license in Louisiana. Pinnacle also will get Harrah's 263-room hotel in Lake Charles. Las Vegas-based Harrah's will take over Casino Magic Biloxi and receive a payment of $25 million online, Pinnacle said.

June 1, 2006
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com    Previous Page | Internet Gambling | Top Online Casinos | Submit News!