Pinnacle Optimistic About Biloxi
JACKSON, Mississippi – As reported by the Biloxi Sun Herald: “Alain J. Uboldi, the chief operating officer of Pinnacle Entertainment, made comments to the Mississippi Gaming Commission on Thursday more positive about the likelihood of rebuilding in Biloxi than previous statements by company executives.
“However, he stopped short of making a commitment to rebuild, saying negotiations with insurers and changing market dynamics would be factors in the decision.
“Pinnacle Entertainment, the owner of Casino Magic Biloxi, has stated in filings with the Securities and Exchange Commission it may take insurance settlements received from Hurricane Katrina and invest the money in St. Louis instead of Biloxi.
“…’Obviously, we have a very nice piece of land between the Isle of Capri and Grand Casino Biloxi,’ Uboldi said. ‘Hopefully, if both sides are rebuilding the right way, we’ll be inclined to build something a little better than what it was.’…”
Source: Casino City Times