Photo Release -- Pinnacle Entertainment Announces $20 Million Expansion at Boomtown Casino New Orleans
July 24 2012 - 8:00AM
Pinnacle Entertainment, Inc. (NYSE:PNK) today announced a major
investment at its Boomtown Casino New Orleans property with a
planned $20 million hotel project. The 150-room five-story hotel
will include suites, a fitness center and meeting space along with
250 additional parking spaces. The new addition will be connected
to Boomtown's existing facility which includes a casino,
entertainment venue, restaurants and meeting space.
A photo accompanying this release is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=13748 Construction
is expected to begin within 60 days and take approximately 13
months to complete. The hotel addition will create approximately 50
new permanent jobs and more than 150 construction related jobs.
Louisiana-based The Lemoine Company will be the general
contractor.
"The addition of a hotel to Boomtown allows us to grow our
customer base in the market through enhanced guest offerings and
also increases options for current Pinnacle guests who come to
visit the New Orleans area," said Boomtown Vice President and
General Manager Barry Regula. He adds, "We expect to provide the
best total hotel and entertainment experience on the West
Bank."
"Our commitment to the state of Louisiana always has been and
remains strong and we will continue to invest in ways that create
great environments for our team members, memorable experiences for
our guests and solid returns for our shareholders," said Geno M.
Iafrate, Executive Vice President of Regional Operations for
Pinnacle. He adds, "We believe the new hotel at Boomtown combined
with our already excellent guest service will boost tourism to the
West Bank and provide new economic benefits to local residents and
businesses alike."
"Pinnacle is once again demonstrating they are good partners in
Jefferson Parish providing tangible benefits such as jobs,
infrastructure improvements and positive community outreach," said
Ricky Templet, Jefferson Parish District 1 Councilman. He adds, "In
a time when many communities are struggling, we are pleased to work
closely with the Boomtown management team on this exciting hotel
project bringing new jobs and continued economic development to the
West Bank."
Pinnacle Entertainment owns and operates four unique properties
in Louisiana; Boomtown New Orleans, Boomtown Casino Hotel Bossier
City, L'Auberge Casino Resort Lake Charles and L'Auberge Casino
& Hotel Baton Rouge which is scheduled to open this summer,
pending regulatory approval.
About Boomtown Casino New Orleans
Boomtown New Orleans, located on the West Bank of the
Mississippi in New Orleans and approximately 15 minutes from the
French Quarter, opened in 1994 and features a 30,000-square-foot
casino with more than 1,400 slot machines and 32 table games,
including a live poker room and high limit slots and tables.
Boomtown New Orleans also offers approximately 1,700 parking spaces
and features four casual and fine dining venues, a 350-seat
nightclub entertainment venue and over 4,600-square-feet of meeting
and conference space.
For more information about Boomtown Casino New Orleans:
www.boomtownneworleans.com or find us on Facebook.
The Boomtown Casino New Orleans logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=13747
About Pinnacle Entertainment
Pinnacle Entertainment, Inc. owns and operates six casinos,
located in Louisiana, Missouri, and Indiana, and a racetrack in
Ohio. In addition, Pinnacle is developing L'Auberge Casino &
Hotel Baton Rouge, and holds a 26% ownership stake in Asian Coast
Development (Canada) Ltd. (ACDL), an international development and
real estate company currently developing Vietnam's first
large-scale integrated resort on the Ho Tram Strip.
The Pinnacle Entertainment, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=13121
All statements included in this press release, other than
historical information or statements of historical fact, are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These forward-looking statements, including
statements regarding the Company's the completion and opening
schedule and potential job creation of the Boomtown New Orleans
expansion project; the facilities, features and amenities of the
Boomtown New Orleans expansion project, are based on management's
current expectations and are subject to risks, uncertainties and
changes in circumstances that could significantly affect future
results. Accordingly, Pinnacle cautions that the forward-looking
statements contained herein are qualified by important factors that
could cause actual results to differ materially from those
reflected by such statements. For more information on the potential
factors that could affect the Company's financial results and
business, review the Company's filings with the Securities and
Exchange Commission, including, but not limited to, its Annual
Report on Form 10-K, its Quarterly Reports on Form 10-Q and its
Current Reports on Form 8-K.
Boomtown is a registered trademark of Pinnacle Entertainment,
Inc. All rights reserved.
Pinnacle Entertainment, Inc. is publicly traded on the New York
Stock Exchange under the ticker symbol PNK. To learn more about
Pinnacle Entertainment, please visit www.pnkinc.com.
The photo is also available via AP PhotoExpress.
CONTACT: Kerry Andersen
Director of Media Relations & Public Affairs
(337) 292-0725 or kandersen@pnkmail.com
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