Pinnacle Entertainment Pinnacle Entertainment has had one of the best starts to their stock week in recent months, and on Wednesday the rise continued. Pinnacle closed the day up 3.88%, or $.31, ending at $8.29.
On Tuesday, Pinnacle won a round in court against the Missouri Gaming Commission regarding the President Casino in St. Louis. The Commission had ruled that Pinnacle could not replace the aging Admiral riverboat that the President resided on. The court sent the resolution back to the Commission for further review.
Earlier this year, the Gaming Commission took the first step in closing down the President Casino and stripping Pinnacle of the gaming license. It came as somewhat of a surprise considering Pinnacle owns other casinos in Missouri.
Pinnacle stock hit a three month high back on December 7th, 2009 at $10.84. Since then, the stock has been in a nosedive, until this week. The stock has now climbed over $1 per share in the first three days of the week.
Other gaming stocks were relatively quiet on Wednesday. MGM Mirage rose 1.50%, to $10.85, and Las Vegas Sands was up to $17.17 at the close of the day. Wynn Resorts was one of the few gaming stocks that fell, dropping less than one percent, and finishing the day at $66.37.
