Gambling Business: Missouri OK's PinnacleState Approves Deal To Acquire Ameristar Casinos |
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There’s more good news for casino firm Pinnacle Entertainment.
The Missouri Gaming Commission voted unanimously by a count of four to zero last week to let Pinnacle buy Ameristar Casinos Inc. for a price tag of $2.8 billion.
The final checkpoint for the deal will come from the federal government, which expressed concerns about the former having too big of a piece of the pie in certain markets.
Pinnacle agreed to sell off some properties to appease federal officials.
“The Commission has conducted a thorough investigation, and we gathered information from many sources,” MGC Chairman Dr. Barrett Hatches said in a statement.
“Our final step was to listen to input from the public. We feel confident our actions are in the best interest of the State of Missouri.”
Earlier this month, Pinnacle Entertainment announced that Louisiana gaming regulators approved its proposed acquisition of Ameristar Casinos, as well as the transfer of interest in the Ameristar Casino Lake Charles development project.
Pinnacle Entertainment owns and operates seven casinos, located in Louisiana, Missouri, and Indiana, in addition to a racetrack in Ohio. It’s also developing another facility in Ohio.
Prior to the deal, Pinnacle had assets of around $2.2 billion.
For more news from Missouri, check out its state page.
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