Pinnacle Inks $21M Land Deal for Gaming Resort

BATON ROUGE, LA-Pushing its plan for the Riviere entertainment resort another step closer to reality, Pinnacle Entertainment Inc. has acquired 508 acres for $20.9 million. According to documents filed with the Baton Rouge clerk of courts, Pinnacle has bought the land from SRA Associates, which had been assembling the acreage for the entertainment company.

As previously reported in GlobeSt.com, the Las Vegas-based Pinnacle plans to build a multi-use complex Riviere along River Road. There still remain questions about a portion of the batture land, which is the stretch between the river at low-water stage and a levee. Pinnacle owns approximately five-sixths interest in the 66-acre stretch, but it reportedly is balking at the $3-million asking price for the other one-sixth interest. SRA Properties filed court papers two weeks ago seeking to subdivide the land. A spokeswoman with Pinnacle says the case is still pending.