Landry’s Inc. announced on Thursday the purchase of a casino-resort under development in Lake Charles, Louisiana, from Pinnacle Entertainment for an undisclosed sum.
The sale by Pinnacle Entertainment, Las Vegas, was prompted by the settlement it reached with the Federal Trade Commission to avoid anti-trust issues after its US$2.8 billion purchase of Ameristar Casinos Inc.
Landry’s Inc., Houston, will flag the 800-room casino-resort under its Golden Nugget brand and expects it to open in 2014. The casino-resort will include a golf course, spa, retail shopping, restaurants, an 18,000 sq ft (1,672 sq m) ballroom, an entertainment showroom, meeting spaces, pool, beachfront and marina.
“I could not pass up the opportunity to build and operate a casino next door to my hometown. This casino will be where Louisiana locals and Texans will want to play, stay and enjoy themselves. We are investing nearly US$600 million dollars in the project and plan to draw from our large South Texas and Louisiana customer base to drive business to our new resort,” said Tilman Fertitta, owner of the privately held Landry’s Inc.
