The Louisiana Gaming Control Board approved a revised development schedule for the riverboat casino plan in Baton Rouge, proposed by Pinnacle Entertainment, Inc. (PNK: 8.55 -1.16%)

Last year the casino operator, put a hold on construction because of a lack of financing due to the national credit freeze. PNK has recently extended a major draw-down credit account that will provide necessary funds for the project and anticipates future bond sales.

The riverboat casino is planned to house 1,500 slot machines and 50 table games, while the land based development will be home to a 100 room hotel and an entertainment venue, costing Pinnacle approximately $250 million.

Pinnacle officials reported to the board that they expect to submit structural vessel documents to its consultants by November 26, request construction contract proposals by Feb. 26 and submit the contract for the board’s review by March 31.

Assuming no further delays the new time schedule will have the Las Vegas based gaming company seeing the Baton Rouge riverboat casino open by late 2011.

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