The Louisiana Gaming Control Board approved the deal in July
Penn National completes purchase of Pinnacle Entertainment
The combined company will operate 40 casino resorts, including L'Auberge Casino & Hotel Baton Rouge (Photo).
2018-10-16
Reading time 31 seg
After finalizing the USD 2.8 B deal, the newly-combined company will now operate 40 casino resorts, four of which are located in Lousiana
In 2013 Penn National spun off Gaming and Leisure Properties, a real estate investment trust that owns and operates Hollywood Casino Baton Rouge among its properties. Pinnacle sold its Louisiana properties in 2016 to Gaming and Leisure Properties and has been paying hundreds of millions of dollars a year in rent to the group to lease and operate the four riverboats.
The combined company will operate 40 casino resorts, including L'Auberge Casino & Hotel Baton Rouge, L'Auberge Casino Resort Lake Charles, Boomtown Casino and Hotel New Orleans and Boomtown Casino and Hotel Bossier City, all leased and operated by Pinnacle.
The Louisiana Gaming Control Board approved the deal in July.
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