Pinnacle “hopeful” on new casino construction

The capital markets are starting to unfreeze, raising hopes that Pinnacle Entertainment will be able to meet its next deadline in October, spokeswoman Pauline Yoshihashi says. Pinnacle is scheduled to deliver construction documents for the new casino resort in South Baton Rouge to the Louisiana Gaming Control Board. Once those documents are approved, the company can start bidding out the project. “This is entirely dependent on being able to raise the capital,” Yoshihashi says. “The bond markets have opened up, but we don’t have a deal that’s imminent.” The company hopes to be able to start construction on its Sugarcane Bay project in Lake Charles by August or September. The gaming board granted Pinnacle an extension on both projects in April due to fundraising problems.—David Jacobs