Pinnacle May Use Hurricane Money to Fund Casino

Pinnacle Entertainment Inc., a gaming and hospitality company, has announced that it would rather build a new casino in St. Louis, Missouri, than rebuild the casino that was ruined in Hurricane Katrina. The company may use money from the Gulf Coast insurance payouts in order to build the new casino in St. Louis. The company is considering replacing its Biloxi, Miss., casino with the one in St. Louis.

Pinnacle was chosen to build the $400 million St. Louis casino complex, which will be called the River City Casino & Hotel. The casino will have an historical feel to it, as early St. Louis architecture will be incorporated along with themes coming from the 1904 world's fair.

Hurricanes Katrina and Rita destroyed Pinnacle casinos in Biloxi, New Orleans and Lake Charles. Currently, pinnacle is in the process of finalizing financial agreements that will fund a St. Louis casino. At a later stage, Pinnacle will decide whether or not they will rebuild the casino in Biloxi.

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