This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Deal: Louisiana Clears Ameristar Deal

NEW YORK ( The Deal) -- Pinnacle Entertainment's (PNK - Get Report) $2.8 billion merger, including debt, with Ameristar Casinos (ASCA) received unanimous approval by the Louisiana Gaming Control Board Thursday, July 18.

The final state regulatory approval is now the Missouri Gaming Commission. The license transfer is on the Missouri agenda for its July 24 meeting for presentations and public comment. The commission could also rule at that meeting.

Besides the state gaming agencies, the Federal Trade Commission must also approve the transaction. The companies have been in discussions with the FTC regarding detailed terms and conditions of proposed divestitures and a consent order are expected to be finalized and approved by the FTC by early August.

The FTC had filed an administrative complaint against the merger and pending the consent order resolving the agency's concerns, Pinnacle has extended its deadline for a response to the complaint to July 31. Commitments from lenders for the debt for the merger are due July 29.

-- Written by Scott Stuart in New York

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
ASCA $0.00 0.00%
PNK $35.82 2.05%
AAPL $124.75 -1.13%
FB $80.78 -1.86%
GOOG $524.05 -1.83%


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs