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Sugarcane Bay complex won’t be built
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Pinnacle Entertainment said it has cancelled its Sugarcane Bay project in Lake Charles, La., and surrendered the related gaming license to the Louisiana Gaming Control Board. Located adjacent to the Company's L'Auberge du Lac Casino Resort, the Sugarcane Bay project was budgeted at approximately $305 million.
The Sugarcane Bay project was to have included a new single-level riverboat casino and 400 guest rooms and suites; several food and beverage outlets and a multipurpose venue for entertainment and group meetings. Anthony Sanfilippo, Pinnacle's president and ceo, said the decision to scrap the development reflects his company's “focus on disciplined capital spending and expansion, and our commitment to focusing on operational excellence throughout our property portfolio.”
This is the second such announcement by Pinnacle this year. In February, the company said it was dropping plans to build a casino resort in Atlantic City, N.J., on the former site of the Sands Hotel & Casino.
Pinnacle owns and operates casinos in Nevada, Louisiana, Indiana, Missouri and Argentina. The company recently opened its newest casino, River City, in south St. Louis County, Mo., and it is also developing a casino in Baton Rouge, La.
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