Seeking Alpha

Pinnacle to sell Lumiere Place Casino and Hotels to Tropicana for $260M

  • Pinnacle Entertainment (PNKagrees 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.
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