Plainridge owner buys competitor casino firm for $2.8 billion
Plainridge Park Casino in Plainville is setting out to make sure people know it’s more than just a casino.
Paul Connors / The Sun Chronicle//PLAINVILLE — The owner of Plainridge Park Casino has agreed to acquire a gambling industry competitor for $2.8 billion in stock and cash.
Penn National Gaming will buy Pinnacle Entertainment and its 16 casinos, extending its reach across the United States and Canada.
Pinnacle stock holders will receive $20 and 0.42 shares of Penn National stock for each share of Pinnacle stock.
“The combined company will benefit from enhanced scale, additional growth opportunities and best in class operations, creating a more efficient, integrated gaming company,” Penn National Chief Executive Officer President Timothy Wilmot said.
Posts
