In nearly identical releases, the companies merely acknowledged that they are in talks about a potential combination in which Penn would be the buyer of the Las Vegas-based operator of 16 gaming facilities, including Ameristar Casino Hotel Kansas City.
A combination would make for a powerful player in the Kansas City casino market. Ameristar led Missouri-side casinos in October, with adjusted gross revenue of $15.26 million and admissions of 373,000, according to the Missouri Gaming Commission. Argosy was No. 3 among area casinos in Missouri, with adjusted gross revenue of $13.2 million and admissions of 266,800.
Harrah's North Kansas City Casino & Hotel was No. 2 in both measures in October.
Hollywood Casino at Kansas Speedway had total gaming facility revenue of just more than $12 million in September, the most recent figures available from the Kansas Racing and Gaming Commission.
A deal would have a similar effect in the St. Louis market. Penn National, based in Wyomissing, Pa., operates Hollywood Casino St. Louis and Argosy Alton, in Alton, Ill. Pinnacle operates Ameristar Casino Resort Spa St. Charles and River City Casino & Hotel.