Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BATON ROUGE, LA-In an effort to add to its collection of entertainment properties south of Interstate 10, a Pinnacle Entertainment Inc. subsidiary has acquired a 35-acre tract in the city’s southern tier. The parcel, bought for $1.13 million from Temple Holdings LLC, is being gamed out for a riverboat casino and 750-room hotel.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.