‘Fool’ weighs in on BR’s Pinnacle casino battle

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Message was posted: 07:13 Feb 27th, 2007

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Casino news source: The Advocate - http://www.2theadvocate.com

‘Fool’ weighs in on BR’s Pinnacle casino battle
Published: Feb 26, 2007

The Motley Fool investors Web site weighs in on the looming battle Pinnacle Entertainment will wage to bring a third riverboat casino to Baton Rouge.

Writer Jeff Hwang offers a primer on events thus far and predicts East Baton Rouge Parish voters, who ultimately will decide on Pinnacle’s $250 million proposal, will warm up to the company.

Hwang skewers the two existing boats’ parent companies, suggesting their unwillingness to invest in Baton Rouge left them vulnerable to attack.

“The problem with the Baton Rouge gaming market isn’t that it had maxed out — it only maxed out because the gaming product currently in Baton Rouge isn’t any good,” Hwang writes.

He also predicts that Belle of Baton Rouge owner Columbia-Sussex, which “is more interested in cutting costs than trying to compete,” is likely the first to leave should Pinnacle enter the market. The link is http://www.fool.com/investing/small-cap/2007/02/23/pinnacle-the-battle-for-baton-rouge.aspx

State regulators are still reviewing Pinnacle’s petition to put a casino on the Mississippi River near Bluebonnet Boulevard.

Even if the company gets approval from state and local governments, the project still must go before East Baton Rouge Parish voters in a local-option election.

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