For total proceeds of us$ 12.9 million
Pinnacle to close disposition of Boomtown Reno
(US).- Pinnacle Entertainment announced the closing of the previously announced disposition of its Boomtown Reno casino-resort operations to M1 Gaming Reno and SJP Reno Property for total proceeds of approximately us$ 12.9 million.
2012-07-02
Reading time 22 seg
(US).- Pinnacle Entertainment announced the closing of the previously announced disposition of its Boomtown Reno casino-resort operations to M1 Gaming Reno and SJP Reno Property for total proceeds of approximately us$ 12.9 million.
At closing, the casino-resort buyers were granted a one year option to purchase 100% of the company's membership interest in PNK (Reno), including 10.9 hectares of additional land adjacent to Boomtown Reno, for incremental consideration of us$ 3.8 million.
In addition, Pinnacle continues to hold approximately 315.6 hectares of remaining excess land surrounding Boomtown Reno as a discontinued operation.
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