Pinnacle Must Sell Two Properties to Complete Ameristar Buyout

Pinnacle Must Sell Two Properties to Complete Ameristar Buyout

The Federal Trade Commission recently blocked the merger, saying it could hurt competition at Missouri and Louisiana casinos. Thus, Pinnacle will be selling its Lumiere Place Casino Resort in Missouri and Ameristar’s $580 million planned casino-hotel project in Louisiana.
 
The sales will still be subject to gaming regulatory approvals in Missouri and Louisiana and the merger will still have to be approved by the FTC.

“We are pleased with the progress we have made in addressing the Federal Trade Commission’s administrative complaint and look forward to completing our proposed acquisition of Ameristar as soon as possible in the third quarter,” said Pinnacle CEO Anthony Sanfilippo in a statement.

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