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Friday, Aug 16
Pinnacle to sell Lumiere Place Casino and Hotels to Tropicana for $260M
- Pinnacle Entertainment (PNK) agrees to sell the Lumiere Place Casino, HoteLumiere, the Four Seasons Hotel St. Louis, and related excess land parcels to Tropicana Entertainment for ~$260M.
- PNK says it will account for Lumiere Place Casino and Hotels as discontinued operations beginning in Q3.
- The sale is part of PNK's fulfillment of the FTC's divestiture conditions related to the acquisition of Ameristar Casinos.