Harrah’s Magic

Harrah’s Entertainment agreed to acquire the remaining assets of Pinnacle Entertainment’s Casino Magic Biloxi, which was damaged during Hurricane Katrina.

Harrah’s has also agreed to sell to Pinnacle its Lake Charles, La., casino assets that were damaged by Hurricane Rita.

Las Vegas-based Harrah’s said the Biloxi, Miss., site covers about 18 acres and is directly east of Harrah’s Grand Casino Biloxi, which it plans to reopen this summer. The site includes a gambling barge and a hotel.

Part of the Lake Charles assets Las Vegas-based Pinnacle may acquire includes a hotel and two riverboat casinos, but it is uncertain whether they will stay in southwest Louisiana.

Pinnacle, another Las Vegas-based casino operator, already has a hotel and casino in Lake Charles that it says is close to the gaming capacity allowed by state laws, according to the Wall Street Journal.