Pinnacle plans to spend $357M on Baton Rouge casino and hotel, up from $250M previously

Pinnacle to spend $357M on casino project

SAN FRANCISCO — Casino Operator Pinnacle Entertainment Inc. said Monday that it is now budgeting $357 for its upcoming casino and hotel in Baton Rouge, La.

That’s more than $100 million more than it first planned because it is adding more hotel rooms, more games and other features.

Pinnacle, which had originally budgeted $250 million for the project, said it now plans for 200 hotel rooms and 1,857 gaming stations. It had previously planned for half as many hotel rooms and 257 fewer gaming stations. It is also adding a covered parking garage.

Pinnacle said it intends to finance the $343 million that remains of the project budget with cash, an undrawn $375 million credit facility and cash flow from operations.

The latest plans need to be approved by the Louisiana Gaming Control Board, Pinnacle said.

The casino is expected to be completed next December.