Pinnacle expands downtown STL casino project
St. Louis, MO – Pinnacle Entertainment said this morning (Monday) that its Board of Directors has approved expanding its casino currently being built in downtown St. Louis, near Laclede's Landing and the Edward Jones Dome.
The change increases the $350 million price tag to $430 million. Planners have added a nightclub, parking improvements, and space for retail. The change in price is also the result of increased construction costs in the time since the initial budget was set.
The new casino is expected to open next year; the company says a general contractor for the construction project will be in a final agreement within two months.
"Since our original efforts in the area began, the St. Louis gaming market has shown solid growth and the revitalization of the downtown area has continued, including the recent opening of the new Busch Stadium approximately ten blocks from our site," said Daniel R. Lee, Pinnacle's CEO, in a statement. "We remain confident about our investment in downtown St. Louis and look forward to our resort's opening in the second half of 2007."