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Details released on Pinnacle casino plans for Baton Rouge
 Message was posted: 11:25 Nov 5th, 2006     
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Casino news source: Sun Herald - http://www.sunherald.com/


Details released on Pinnacle casino plans for Baton Rouge
THE ASSOCIATED PRESS

BATON ROUGE - Pinnacle Entertainment proposes a $250 million hotel and riverboat casino resort for Baton Rouge that would open by September 2009, competing with the area's two existing casinos.

According to the company's timeline, construction would begin a year from now, pending approval.

Pinnacle petitioned the Louisiana Gaming Control Board late last week to place a third casino in Baton Rouge.

The board did not release details of the plan until Wednesday, however, after public records requests by news media, including The (Baton Rouge) Advocate and The Associated Press.

The board did not provide all the details, saying some parts, including staffing plans and an economic impact study, were considered proprietary or "trade secrets" and not, therefore, public.

But the information released confirms that Pinnacle wants to place a third Baton Rouge casino on a 35.5-acre tract it bought through a subsidiary in September for $1.1 million.

The documents included renderings for a hotel, though details like the number of rooms were withheld.

The documents also indicate the project would include an adjacent 18.3-acre section of Mississippi River batture that Pinnacle bought from developer Mike Wampold for $584,064.

The project would have to be approved by the Gaming Control Board, the East Baton Rouge Parish Metro Council and parish voters in a local-option election.

State regulators say the next step is a review by State Police and the Attorney General's Office.

Pinnacle's request was filed late Friday with the Gaming Control Board. It involves one of two casino licenses Pinnacle obtained earlier this year from Harrah's Entertainment Inc. for $70 million after Harrah's decided not to rebuild its two-boat gambling complex in Lake Charles, which was heavily damaged by Hurricane Rita.

The East Baton Rouge Parish market, which has the Belle of Baton Rouge, owned by Columbia Sussex Corp., and Casino Rouge, owned by Penn National Gaming Inc., has seen a sharp rise in its take from gamblers since population patterns in southeastern Louisiana were shifted almost overnight by Hurricane Katrina.

For a time, Baton Rouge, as a two-boat market, saw its usual $14 million or so monthly winning pattern more than double following Katrina. Last month, the market took in $20.3 million.





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