Pinnacle Ups St. Louis Casino

Pinnacle Entertainment has raised the budget of its St. Louis casino resort development to $430 million, up from an original construction estimate of $350 million, the company said June 19th.

The increase was due to higher construction costs, the addition of a nightclub, parking and site improvements, retail stores and other adjustments, the Las Vegas-based company said.

The new Pinnacle casino is expected to open next year with 200 hotel rooms, 2,000 slot machines and 12,000 feet of meeting and convention space. The location is on 18 acres in the Laclede’s Landing area north of the Gateway Arch.

Terms on many of the project’s bids have already been settled, and Pinnacle expects to complete other bid packages within the next 30 to 60 days.

“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 10 blocks from our site,” Pinnacle chairman/CEO Daniel Lee said.

The company owns and operates casinos in Nevada, Louisiana, Indiana, Argentina and the Bahamas.