Travel & Entertainment M&A » By The Online Investor Staff, updated Fri., Apr. 19, 11:34 PM
Recent mergers and acquisitions in the Travel & Entertainment M&A category.
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Slide #72. Pinnacle Entertainment, Inc. — Ameristar Casinos, Inc.
Acquirer:
Pinnacle Entertainment, Inc. (PNK)
Acquiree:
Ameristar Casinos, Inc. (ASCA)
Details:
Pinnacle Entertainment, Inc and Ameristar Casinos, Inc. announced that the companies have entered into a definitive agreement under which Pinnacle will acquire all of the outstanding common shares of Ameristar for $26.50 per share in cash, for a total enterprise value of $2.8 billion, including debt of $1.9 billion and cash on hand of $116 million as of September 30, 2012. This consideration represents a premium of 45% over the average closing price of Ameristar common stock for the 90 days ended December 20, 2012. The transaction has received the unanimous approval of both the Ameristar and Pinnacle Boards of Directors.
Pinnacle Entertainment is an owner, operator and developer of casinos and related hospitality and entertainment businesses. Co. owns and operates 16 gaming, hospitality and entertainment businesses in Ohio, Colorado, Indiana, Iowa, Louisiana, Mississippi, Missouri, Nevada, and Pennsylvania. Co. also holds a majority interest in the racing license owner, and Co. is a party to a management contract, for Retama Park Racetrack located outside of San Antonio, TX. Additionally, Co. owns and operates a live and televised poker tournament series under the trade name Heartland Poker Tour.
Open the PNK Page at The Online Investor »
Pinnacle Entertainment is an owner, operator and developer of casinos and related hospitality and entertainment businesses. Co. owns and operates 16 gaming, hospitality and entertainment businesses in Ohio, Colorado, Indiana, Iowa, Louisiana, Mississippi, Missouri, Nevada, and Pennsylvania. Co. also holds a majority interest in the racing license owner, and Co. is a party to a management contract, for Retama Park Racetrack located outside of San Antonio, TX. Additionally, Co. owns and operates a live and televised poker tournament series under the trade name Heartland Poker Tour.
Open the ASCA Page at The Online Investor »
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