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Casino cancels expansion
Message was posted: 10:50 May 8th, 2007

User: vegasqueen Rank: Casino Gold: 28510CG Contributor rating: 71920 Status: Offline

Casino news source: The Enquirer - http://news.enquirer.com Casino cancels expansion The owner of the Belterra casino near Vevay, Ind. has indefinitely postponed a planned 250-room addition to the casino’s hotel. Las Vegas-based Pinnacle Entertainment announced the postponement when it issued its quarterly earnings today. It blamed the postponement on the Indiana legislature recently authorization of the installation of 2,000 slot machines at each of two racetracks in metropolitan Indianapolis. The expansion of the hotel, which has 608 rooms, was announced in January 2006. The addition would have made Belterra the largest hotel in the state of Indiana. The $45 million of capital investment that had been planned for the expansion will spent at other sites. Business has been strong at the casino in recent month. Benefiting in part from a new access road near the property, first-quarter revenues at Belterra rose 10 percent to $44.4 million compared to $40.4 million in the 2006 period, Pinnacle officials said.