Las Vegas-based Pinnacle Entertainment Inc., which is building a new casino and hotel in Baton Rouge, announced Tuesday the company has closed on a $95 million investment in a company that is developing a beachfront resort in Vietnam.
Pinnacle had announced the move in March. The investment is in Asian Coast Development Ltd., which owns the Ho Tram Strip beachfront resort 80 miles southeast of Ho Chi Minh City. Pinnacle’s investment gives it 26 percent of Asian Coast Development and proportional representation on the company’s board of directors.
Pinnacle also has a management agreement that runs through 2058 at a planned second Ho Tram Strip resort.
Pinnacle is building the L’Auberge Casino & Hotel in Baton Rouge and expects to complete the project in summer 2012.