Seeking Alpha

Pinnacle Entertainment, Inc. (PNK)

  • Jul. 15, 2013, 2:24 PM
    Pinnacle Entertainment (PNK -0.7%) launches a private offering of up to $800M of senior unsecured notes. The company plans to use the net proceeds to finance the cash portion of its pending acquisition of Ameristar Casinos, redeem its existing 8.625% senior notes due 2017, and provide working capital and funds for general corporate purposes upon completion of the acquisition. Additionally, the company says it's in the process of seeking commitments for a $1.6B term loan and a $1B revolving credit facility.
    | Comment!
  • Dec. 27, 2012, 1:29 PM
    Pinnacle Entertainment (PNK +0.8%) bucks a weak tape after being raised to Hold at Union Gaming Group. The upgrade comes on the back of the gaming company's all-cash deal last week to buy Ameristar Casinos (ASCA) for $869M.
    | Comment!
  • Dec. 21, 2012, 7:27 AM
    Ameristar Casinos (ASCA) is gobbled up by Pinnacle Entertainment (PNK) for $26.50/share, giving the company a total enterprise value of $2.8B. ASCA shares closed at $22.07 last night. Might Boyd Gaming (BYD) be on someone's shopping list? (PR)
    | Comment!
Visit Seeking Alpha's
PNK vs. ETF Alternatives
Company Description
Pinnacle Entertainment Inc is an owner, operator and developer of casinos and related hospitality and entertainment facilities. The Company owns 14 gaming properties in Colorado, Indiana, Iowa, Louisiana, Missouri, Mississippi, and Nevada.
Sector: Services
Country: United States