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Association of Ameristar and Pinnacle; MGM and Penn are still rivals | 24th December 2012 : WorldCasinoYellowPages

Association of Ameristar and Pinnacle; MGM and Penn are still rivals

... 24 December 2012

Association of Ameristar and Pinnacle; MGM and Penn are still rivals

Anthony Sanfilippo, the worthy CEO of Pinnacle Entertainment has confirmed that they have decided to strike the deal worth $869million to take over rivalAmeristar Casinos in Nevada. The board of directors of both the prominent companies have given their consent for the market price of $26.50 per share. Sanfilippo of Pinnacle was delighted to express that the company as well as its stake holders would go a long way through this beneficial deal that would put them on the road of progress and success in future. The association of both the companies would not only enhance the size but would also add much to their overall performance to penetrate the markets and properties in Indiana, Mississippi, Colorado, Iowa and Missouri. The relevant agreement is expected to be completed by the third quarter of the coming year.

With considerable downfall in the number of US gamblers and the gaming industry facing strong challengs and competition, it is wise enough on the part of Pinnacle and Ameristar to shake hands that would make the things easier for the two to surpass all obstacles, i.e. duplicate expenses in terms of marketing and promotional activities, say the experts like Steven Wieczynski of Stifel Nicolaus Capital Markets

Karen Bailey, the qualified representative of Penn National Gaming has confirmed that building a new casino property in Maryland's Prince George County is still on their cards. Moreover a huge amount of  $40million has already been poured by them for the mission. More details would be made available soon, said Bailey who added that they are in tough contest with their rival, i.e. MGM Resorts International with particular significance to question 7 that has become a matter of great enjoyment now. They are chasing the issue with great vigour and massive funds too, said the optimistic Bailey.

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