Penn National Gaming receives approval for Pinnacle Entertainment acquisition
Timothy J. Wilmott, Chief Executive Officer of Penn National, commented, "We are grateful to The Colorado Division of Gaming for their work and comprehensive review of the application and filings related to our pending transaction with Pinnacle Entertainment. With just a few requisite regulatory hearings remaining, we remain on schedule to complete the transaction early in the fourth quarter."
The completion of the proposed transaction is contingent on receipt of additional regulatory approvals, as well as certain other conditions.
Inclusive of the approval from the CDG, Penn National has received approvals from thirteen gaming regulatory bodies in connection with its proposed acquisition of Pinnacle Entertainment. In addition, on March 29, shareholders of both Penn National and Pinnacle Entertainment approved the proposed merger, with over 99% of all votes cast in favor of the transaction.
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