Share price rises for Pinnacle
21st December, 2007
The complex is a mixture of gaming and entertainment, with slot machines, table games, two 495 room luxurious hotel (to be opened next year) and poker facilities.
The project cost Pinnacle over half a billion dollars and is located by the banks of the Mississippi River.
Following a two year low on the share price on Wednesday the 7.1% increase was a welcome change in direction for the company, which like other gambling operators has struggled since the changes in the laws in the USA.
An analyst on stocks and shares, betsy Gordon said that the share price coudl rise more as the location and feel of the casino are very attractive and more customers than expected could walk through the door. "We think Pinnacle's property is truly differentiated in the St. Louis market, it reminds us of how Borgata is unique in Atlantic City and as the word gets out we expect it to draw from a more diverse/larger customer base."
