Shareholders Approve Penn National, Pinnacle Merger
Penn National could become the largest gaming operator in the United States, but the Federal Trade Commission has reportedly made a second request for additional information about the merger.
Keyword: Pinnacle Entertainment
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Record Fourth Quarter Revenue for Penn National Gaming
Casino and racetrack owner Penn National Gaming reported record fourth quarter revenue that exceeded guidance.
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After PNGI Deals, New Owners for Retama, Belterra
Track and casino owners Penn National Gaming (PNGI) and Pinnacle Entertainment announced Dec. 18 that Penn National will acquire Pinnacle in a cash and stock transaction valued at approximately $2.8 billion.
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Penn National Considers Purchase of Pinnacle
Racetrack and casino owner Penn National Gaming is considering the purchase of another racetrack and casino owner, Pinnacle Entertainment.
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Belterra Park Planning 20% Purse Reduction
Belterra Park, which opened for gaming and Thoroughbred racing in May, plans to reduce overnight purses by about 20% according to its next condition book effective Aug. 30.
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Belterra Park On Track for May 8 Opening
Belterra Park received its meet approvals from the Ohio State Racing Commission April 29 and is on schedule to begin its 2014 meet May 8.
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Decision on River Downs Meet Shift Postponed
The Ohio State Racing Commission March 20 postponed a decision on a plan to transfer summer racing dates at River Downs near Cincinnati to Beulah Park near Columbus.
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New River Downs Hopes to Open in Spring 2014
Pinnacle Entertainment plans to begin construction on a new River Downs by the end of March, but the company remains mum on details about the planned Ohio racetrack casino.
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Pinnacle Begins Demolition of River Downs
Pinnacle Entertainment, which owns River Downs, has begun demolishing racing structures and digging up the one-mile dirt track.
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Regulator Approves Pinnacle's Retama Purchase
The Texas Racing Commission has approved Nevada-based Pinnacle Entertainment to purchase 75.5% of the racing assets of Retama Park in San Antonio.
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Talks Continue on Possible Ohio Dates Swap
Negotiations continued Dec. 12 among the Ohio parties involved in a possible shift of the River Downs meet to Beulah Park in 2013.
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Retama Park's Future in Question
The Texas Workforce Commission was notified the week of Nov. 19 that the 296 employees at Retama Park near San Antonio, Texas, would be laid off due to the termination of its management contract.
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'Public Sale' Hints at Future of River Downs
Though owner Pinnacle Entertainment hasn't made an official announcement, it appears the grandstand at River Downs will be leveled to make way for a new racetrack gaming facility.
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Pinnacle to Buy Majority Share in Retama Park
Casino operator Pinnacle Entertainment said April 26 one of its subsidiaries has an agreement to purchase a 75.5% interest in Retama Park, which is located near San Antonio, Texas.
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River Downs Reports Gains in Ontrack Handle
River Downs, where the start of the 2011 race meet was delayed because of Ohio River flooding, reported gains in live handle and daily average purses.
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River Downs Lowers Minimum on Some Exotics
Officials at River Downs have announced the track will change its wagering format to offer 50- cent minimum trifectas and Pick 3s as part of their daily wagering schedule.
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River Downs, Horsemen Agree on 93 Racing Days
Having compromised on the number of racing dates, Pinnacle Entertainment and the Ohio Horsemen's Benevolent and Protective Association have agreed on a contract for the 2011 meet at River Downs.
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Pinnacle Closes on Purchase of River Downs
Pinnacle Entertainment, a Las Vegas-based casino company, said Jan. 28 it has closed on the purchase of River Downs in Ohio for $45 million in cash.
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Pinnacle Names GM for River Downs in Ohio
Pinnacle Entertainment has named Kevin Kaufman, general manager of its Belterra Casino in Indiana, as general manager of River Downs in Ohio.
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Pinnacle Confirms $45M Deal for River Downs
Las Vegas-based Pinnacle Entertainment confirmed Nov. 26 it has a deal to purchase River Downs near Cincinnati, Ohio, for $45 million.
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Pinnacle to Grow, But No River Sale Comment
Pinnacle Entertainment Inc. reported a reduced net income loss for the third quarter and said it's looking to expand into new markets while adhering to "disciplined capital-spend and return metrics."
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Sources: River Downs Sold to Casino Company
River Downs near Cincinnati, Ohio, has been sold to Pinnacle Entertainment, a gaming company that operates a casino in neighboring Indiana, according to sources close to the matter.
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Churchill Downs Completes Sale of Hollywood Park
Churchill Downs Inc. and Bay Meadows Land Company completed the sale of Hollywood Park racetrack and surrounding acreage at the Inglewood, Calif., site to Hollywood Park Land Company, an affiliate of BMLC, for $257.5 million. CDI will use the proceeds of the sale to pay down debt.
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Delta Downs Gets Approval for Slots Expansion
Delta Downs near Vinton, La. Won approval to enlarge its slot-machine parlor to an overall size of more than 40,000 square feet.
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Delta Downs Legislation Draws Casino Company's Ire
Pinnacle Entertainment officials alleges legislation to provide more aisle space for the gaming parlor at the Delta Downs in Vinton, La., is actually an effort to expand the casino at the racetrack owned and operated by Boyd Gaming.
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New Mexico Delays Action on Racetrack License
The New Mexico Racing Commission has delayed action for 60 to 90 days on awarding a license for a new racetrack in Hobbs near the Texas border.
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Indiana Casino, Hubbard Fined by Gaming Panel
The Indiana Gaming Commission has fined Pinnacle Entertainment more than $2 million and suspended the gaming license of Belterra Casino Resort for two days. The action by the commission came at its monthly meeting July 29 in Indianapolis.
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Pinnacle Wants to Build La.'s Biggest Boat
Pinnacle Entertainment plans to build Louisiana's largest riverboat for its proposed Lake Charles casino if the project is approved in April.
