Pinnacle and Harrah's Plan to Swap Damaged Gulf Coast Casinos
Pinnacle Entertainment and Harrah's Entertainment are swapping hurricane-damaged casinos on the Gulf Coast. Pinnacle says it's going to take what's left of Harrah's Lake Charles casino complex in Louisiana. Las Vegas-based Harrah's is going to over what's left of Casino Magic in Biloxi, Mississippi. Harrah's will also get a payment of 25 (M) Million dollars.
The deal announced today gives Las Vegas-based Pinnacle a second casino at its L'Auberge gambling resort in Lake Charles. Pinnacle also will get Harrah's 263-room hotel in Lake Charles. The company isn't saying yet where it'll use another gambling license in Louisiana. Casino Magic Biloxi's gambling barge was destroyed and its hotel was badly damaged by Hurricane Katrina last August 29th. Harrah's Lake Charles sustained heavy damage to both of its casino boats from Hurricane Rita on September 25th.
June 1, 2006
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
Previous Page | Internet Gambling | Top Online Casinos | Submit News!