The casino industry located at the Gulf Coast has been hit hard by Hurricane Katrina. Some of the venues that were not demolished had to be shut down, costing the operators millions of dollars in damages for every day they remain closed.
Pinnacle Entertainment, a gaming company that owns and operates casino resorts in Nevada, Mississippi, Louisiana and Indiana is going ahead with its plans to construct a new casino in St. Louis. Pinnacle Entertainment has sustained heavy damages to their other resorts affected by Katrina, estimated at more than $100 million.
The breaking ground ceremony of the new $400 million casino was held on Wednesday. It will be located at downtown St. Louis just north of the Gateway Arch, an area known as the Laclede's Landing entertainment district. According to Pinnacle, the new venue will generate 700 construction jobs, in addition to 1,300 permanent positions once it starts operating.
Pinnacle has plans to build an additional one in St. Louis, which will be located in south St. Louis County and will cost $375 million to construct. This second casino will be open for business by 2008. Others located in St. Louis include Ameristar St. Charles Casino situated in St. Charles, Harrah's Maryland Heights Casino in northwest St. Louis County, and the President gambling boat at Laclede's Landing.
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