Pinnacle Unsure About Rebuilding Casino Magic Biloxi - WLOX.com - The News for South Mississippi

11/08/05

Pinnacle Unsure About Rebuilding Casino Magic Biloxi

The future of Casino Magic Biloxi is rather uncertain. Pinnacle Entertainment owns the Highway 90 casino. Its CEO told WLOX News it will be at least six months before he makes a final decision about whether to rebuild the hurricane damaged resort.

According to Dan Lee, Pinnacle is actively working on coming back to Biloxi. But the CEO admitted factors such as new competition, and Highway 90 bridge construction timetables could permanently shut his casino down.

On August 29th, Hurricane Katrina tossed the Casino Magic gambling barge across Highway 90. Since then, insurance adjusters have been tallying up how much damage the Biloxi casino sustained.

There's one other note you should know about this story. Pinnacle Entertainment's insurance policy gives it the option of using its Biloxi insurance proceeds on two Missouri casino projects that it just started building. Mr. Lee told us he wasn't sure if his company would take advantage of that option.

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