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by Michael C. Lowe | June 01, 2011

 Pinnacle Entertainment Inc., a Las Vegas-based casino owner, last week paid $96 million for a 26 percent stake in Asian Coast Development Ltd., a Canadian developer of casinos and housing projects in Vietnam. Pinnacle also will manage a new beachfront resort that Asian Coast is planning to build 80 miles southeast of Ho Chi Minh City in Vietnam. The property will be on the Ho Tram Strip, a rapidly developing 400-acre resort and gaming destination, and would be the second hotel planned for the area after the MGM Grand Ho Tram, a 1,100-room casino hotel that will open its first phase in 2013.