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Ameristar buying casino project in Lake Charles

3 years ago March 14, 2012 Mar 14, 2012 Wednesday, March 14 2012 Wednesday, March 14, 2012 10:36:07 AM EDT in News
Source: Associated Press

LAKE CHARLES- Ameristar Casinos Inc. has agreed to acquire a riverboat casino project under development in Lake Charles for $32.5 million.

Ameristar, which has eight casino-hotels, is buying the uncompleted project from Creative Casinos of Louisiana LLC, which is headed by former Pinnacle Entertainment Inc. chief executive Daniel Lee.

Las Vegas-based Ameristar says it will take over development and raise Creative Casinos' minimum investment of at least $400 million to $500 million. Plans call for a dockside casino, a hotel with at least 700 rooms and an 18-hole golf course.

The resort is being developed on a 242-acre site adjacent to Pinnacle's L'Auberge du lac casino resort.

The sale will be considered by the Louisiana Gaming Control Board on Thursday.

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