Pinnacle Staking Claim to Baton Rouge Land

Pinnacle has placed a contract for an adjacent 18 acres, owned by local developer Michael Wampold, which could end up as the riverboat's dock. Pinnacle and Wampold could not be reached for comment, but sources estimate the entire development could exceed $300 million.

The Las Vegas-based Pinnacle subsidiary, Yankton Investments, is amassing land between Nicholson Drive and River Road and along the path of the planned Bluebonnet Boulevard Extension. "This location is on the far end of the Baton Rouge suburbs in a developing area and there's a golf course nearby," says a local source familiar with the deal and the entertainment industry. "They've put a four-lane road through that area, which has opened it up, but it's basically residential. Casinos don't typically go up in residential areas."

As a result, the source was uncertain as to how Pinnacle will use the land for entertainment purposes. "It's somewhat bucking the trend to be out there," he tells GlobeSt.com. "But there's some talk that Pinnacle might have a tie-in with a golf course out there."

The source says if any company can make a casino work in the area, Pinnacle can. "They're a good operator," he says. "If they get this place here, and get it going, it'll do quite well."

Pinnacle recently acquired licenses for two Lake Charles gambling boats from Harrah's Entertainment. Also in Lake Charles, the entertainment giant is expanding its vastly successful L'Auberge du Lac Hotel & Casino at 777 Avenue L'Auberge and is preparing to break ground on Sugarcane Bay, at 505 N. Lakeshore Dr. It also owns Boomtown Casino New Orleans at 4132 Peters Rd. in Harvey, LA. In all, Pinnacle has an estimated $1.2 billion of assets south of Interstate 10, not counting the proposed Baton Rouge location. "That's a lot of assets to have in hurricane alley," the source says.