Pinnacle Entertainment agreed to settle a lawsuit against Allianz Global Risks US Insurance Co. in exchange for an additional $48 million for damages sustained during Hurricane Katrina. Pinnacle previously received $5 million from Allianz. The new combined payment of $53 million includes $3 million in interest. The company has received a total of nearly $200 million in payments or commitments from insurers related to claims on damages at its former Mississippi casino and its Boomtown New Orleans.

By GGB Staff

Staff writers for Global Gaming Business magazine. Las Vegas, Nevada.

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