July 24–Pinnacle Entertainment’s acquisition of Ameristar Casinos took a big step forward today as the Missouri Gaming Commission approved the takeover.
Commissioners voted 4-0 to approve the change of control to Pinnacle, in which the casino operator can take over the gambling operations of the Ameristar casinos in St. Charles and Kansas City.
Missouri is the final state to approve measures required as part of Pinnacle’s purchase of rival Ameristar. Pinnacle officials said today they hope to complete the $2.8 billion deal in early August.
To satisfy federal antitrust regulators, Pinnacle agreed last month to sell its Lumiere Place casino complex in St. Louis and an Ameristar development in Lake Charles, La.
Anthony Sanfilippo, Pinnacle’s chief executive, says he hopes to find a buyer for Lumiere in about two weeks.
