Asian Coast Development Receives a US$95 Million Investment from Pinnacle Entertainment

US-based Pinnacle Entertainment Ltd. announced that it will enter into a subscription agreement to acquire a 26% equity interest in Asian Coast Development (Canada) Ltd. (ACDL) in exchange for a US$95 million investment in ACDL securities. ACDL, an international development company based in Vancouver and Ho Chi Minh City, owns and is developing the Ho Tram Strip beachfront complex of resorts and residential developments in southern Vietnam. The Ho Tram Strip will be Vietnam’s first destination integrated resort and gaming complex and is scheduled to open in multiple phases. Pinnacle Entertainment owns and operates seven casinos and a racetrack in the US.