Business Briefs for May 8, 2008
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Pinnacle reports quarterly profit up
Pinnacle Entertainment, the gambling casino operator developing a new casino in Baton Rouge, reported $5.1 million in 2008 first-quarter earnings, up from $2.9 million in the same 2007 quarter.
Pinnacle Chief Executive Dan Lee said startup costs with expanding L’Auberge du Lac in Lake Charles and opening a $507 million downtown St. Louis casino in December were a drain on income, but both investments should pay off down the road.
Revenue for the Las Vegas company was $233 million in the quarter, up 12 percent from about $204 million in 2007.
Pinnacle said its first-quarter combined development costs were $5.2 million for a planned Lake Charles casino, Sugarcane Bay, and the proposed Riviere casino along the Mississippi River in south Baton Rouge, scheduled to open a first phase in 2010.
In New Orleans, Pinnacle’s Boomtown casino had revenue of $42.4 million for the quarter, up from $41.7 million a year earlier; in Lake Charles, L’Auberge recorded revenue of $81.3 million, up from $77.8 million a year ago; and the Bossier City Boomtown property drew $23.7 million, down from $24.4 million in 2007.
Southwest adding Denver-N.O. flights
DENVER — Southwest Airlines says it is adding five nonstop flights and three destinations from Denver — including flights to New Orleans.
The Dallas-based low-cost carrier said Wednesday it also will add nonstop Denver flights to Sacramento, Calif., and Fort Lauderdale-Hollywood, Fla.
Southwest says it will add one daily nonstop to Phoenix, for a total of seven.
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