The CEO of Pinnacle Entertainment, Anthony Sanfilippo, recently announced plans to cancel a large casino extension project the company had planned in Lake Charles, Louisiana.
The Lake Charles, Louisiana Plan
Former Pinnacle Entertainment CEO, Dan Lee, developed plans for a large casino and resort known as Sugarcane Bay in Lake Charles, Louisiana. This casino was to be in addition to Pinnacles previous Lake Charles casino, L’Auberge du Lac. The project was originally set to cost $305 million and included a casino and a hotel. When CEO Dan Lee stepped down, the newly appointed CEO, Anthony Sanfilippo, scaled the Sugarcane Bay project back to be a casino extension on an already existing hotel. Then, plans for Sugarcane Bay were canceled all together.
Pinnacle Entertainment
Since the new CEO of Pinnacle Entertainment has taken charge, several projects for Pinnacle Entertainment have been either scaled back or canceled. These cancellations include a riverboat casino in St. Louis, Missouri and a large casino resort in Atlantic City, New Jersey. However, Pinnacle Entertainment recently built a large casino resort in the suburbs of St. Louis and still operate another casino in the downtown area.
Pinnacle Entertainment in Louisiana
click here to see most Popular PagesPinnacle Entertainment is a large part of the gaming industry in the state of Louisiana, and according to Pinnacle Entertainment CEO Anthony Sanfilippo, the company plans to keep ties with the state. Currently, Pinnacle Entertainment runs casinos in New Orleans and Lake Charles, Louisiana. They also have plans to build another casino in the city of Baton Rouge sometime in the near future.
The Future of Pinnacle Entertainment
Overall, the downsizing of Pinnacle Entertainment appears to be a defensive maneuver to the current economy and not a warning sign of trouble in Pinnacle Entertainment. The company maintains plans to continue to build and operate casinos in several states across the nation.
