Pinnacle Entertainment Inc. reported Thursday — as part of its third-quarter earnings report — that construction on its L’Auberge Casino & Hotel Baton Rouge remains on schedule with the facility set to open in the summer 2012.
The pace of construction has picked up since the high water in the Mississippi River subsided. The threat of flooding and unanticipated site preparation work delayed the project by nearly seven months, said Carlos Ruisanchez, Pinnacle executive vice president and chief financial officer. The delays have also increased the construction costs by roughly $10.7 million, or 3 percent, of the previous $357 million estimate.
As of Sept. 30, Pinnacle has spent about $110 million of its budget for the project. The Baton Rouge update was part of Pinnacle’s third-quarter earnings report.
The company reported a loss of $790,000, or 1 cent per share, on revenue of $295.9 million. A year earlier, Pinnacle lost $766,000, or 1 cent per share, on revenue of $275.9 million.