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Pinnacle investing $800 million in Missouri hotels
Pinnacle Entertainment Inc. is doubling its investment in two St. Louis hotel-casino projects to $800 million.
“This level of investment makes Pinnacle a major force in the renewal of downtown St. Louis, and it will further strengthen our market position,” said Daniel R. Lee, chairman and CEO of Pinnacle.
The company is spending $45 million of that amount to acquire and refurbish the Embassy Suites hotel.
“Our architects and designers have developed a unique ‘look’ for this property, which is likely to become a major travel destination for the entire region,” said Mr Lee.
Groundbreaking should begin next month.
Pinnacle Entertainment owns and operates casinos in Nevada, Mississippi, Louisiana, Indiana and Argentina. The company opened a major casino resort in Lake Charles, Louisiana, earlier this year.
Report by David Wilkening
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