{"id":10521,"date":"2013-02-28T17:22:26","date_gmt":"2013-03-01T01:22:26","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=10521"},"modified":"2013-03-01T09:46:20","modified_gmt":"2013-03-01T17:46:20","slug":"pinnacle-expands-boyd-loses-face","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/pinnacle-expands-boyd-loses-face\/","title":{"rendered":"Pinnacle expands, Boyd loses face"},"content":{"rendered":"

Jeez, I go on sabbatical to attend to other writing commitments and hella history breaks loose: Internet<\/strong> gambling is now the law of Nevada<\/strong> and New Jersey<\/strong> (so much for federal legalization being “just around the corner,” huh?), Caesars Entertainment<\/strong> floats a “controversial and complicated” IPO — well, nothing new there<\/a> — and there’s a godawful, bloody massacre on the Las Vegas Strip<\/strong>. Or as civic boosters would call it, business as usual.<\/p>\n

\"\"Pinnacle Entertainment<\/strong>, meanwhile, put another $20 million into the New Orleans<\/strong> market, breaking ground on a small (eight suites, 150 rooms) hotel to complement its Boomtown New Orleans<\/em> riverboat. And why not? The Pelican State has been very, very good for Pinnacle, which has surpassed Caesars as Louisiana<\/strong>‘s dominant casino operator. The new hostelry won’t add a lot of jobs (50) over the long run, when it opens in April 2014. However, Pinnacle has poured so much money into the Lake Charles<\/strong> and Baton Rouge<\/strong> markets that it can be forgiven for being a bit cost-conscious in the Big Easy.<\/p>\n

It’s the second time<\/strong> around for ex-lovebirds Boyd Gaming<\/strong> and Dania Entertainment<\/strong>. Yesterday, Boyd \"\"announced a “definitive” agreement to sell its red-headed Florida<\/strong> stepchild, Dania Jai-Alai<\/strong> by May 24. (Let’s hope it’s more definitive than the last agreement was.) The terms of the ‘pre-nup,’ as it were, are downright humiliating for Boyd. Dania will dismiss a lawsuit against the company, but Boyd has to accept $65.5 million for the fronton, down from a previous $80 million sale that went south. What’s more — or rather, less — is that $7 million previously put down by Dania is to be subtracted from the new, lower sales price, so Boyd is getting $58.5 million at the end of the day. The money, while small potatoes, is expected to help retire some of the debt incurred during Boyd’s Peninsula Gaming<\/strong> purchase last year. While Boyd is still keen on the Sunshine State, it had long since decided that Dania was where the action wasn’t and is expediently cutting its losses.<\/p>\n","protected":false},"excerpt":{"rendered":"

Jeez, I go on sabbatical to attend to other writing commitments and hella history breaks loose: Internet gambling is now the law of Nevada and New Jersey (so much for federal legalization being “just around the corner,” huh?), Caesars Entertainment … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60,28,36,7,37,84,30,33,9],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/10521"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=10521"}],"version-history":[{"count":3,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/10521\/revisions"}],"predecessor-version":[{"id":10525,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/10521\/revisions\/10525"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=10521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=10521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=10521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}