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Although Pinnacle Entertainment has scrapped plans to develop a casino in Lake Charles, the Louisiana Gaming Control Board has granted approval for the company to move forward with plans to construct a gaming facility in Baton Rouge.
The Board has approved work on the site to begin immediately, however they requested Pinnacle to place $25 million in an interest bearing escrow account until the project was opened.
The money is the Board’s safety net and will go to the state if the casino does not move forward as planned, like the recently canceled Sugarcane Bay project.
“We’ve already signed a construction contract,” said Anthony Sanfilippo, Pinnacle’s president and CEO. “We have 500 acres of land that we plan on developing a facility that will be a wonderful casino entertainment facility.”
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