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Casino Sales and Mergers
The gambling industry has seen its fair share of mergers and acquisitions this year. This is to be expected when growth has been strong and the industry is still relatively young. Casinos are trading hands at a good clip while in other areas whole gaming companies are being purchased. Some players are looking at mergers as the smartest way to grow. Watch the feeding frenzy here at ReadyBetGo.
Casino Sales and Mergers
Pinnacle Entertainment purchases Ameristar Casinos
Friday, December 21, 2012
Pinnacle will double in size to 17 operating properties in 13 distinct geographies. The acquisition of Ameristar's properties will complement Pinnacle's existing portfolio by adding eight casino-resorts in diverse gaming markets, including: St. Charles near St. Louis, MO; Kansas City, MO; Council Bluffs, IA; Black Hawk, CO; Vicksburg, MS; East Chicago, IN; and Jackpot, NV.
World Poker Tour sells major assets to PartyGaming
WPT Enterprises, Inc. ("WPTE" or the "Company") today announced that a subsidiary of PartyGaming Plc, Peerless Media Ltd. ("Peerless Media"), has agreed to purchase substantially all of WPTE's operating assets other than cash, investments and certain excluded assets.
Wynn's pending divorce leads to sale of two million casino shares
Wednesday, August 19, 2009
Wynn Resorts Chairman Steve Wynn and his wife, Elaine, sold 2 million shares of the company's stock last Friday, collecting at least $114 million. In a brief statement released this morning, Wynn Resorts said the shares were sold "to provide liquidity in anticipation of the change in their marital status."
Boyd Gaming looking to aquire Station casino assets
Boyd Gaming Corp. is "actively engaged" in discussions to acquire some of the assets of Station Casinos, which filed for Chapter 11 bankruptcy last week, Boyd Chief Executive Officer and President Keith Smith said Wednesday.
Lake Tahoe's Cal Neva casino up for sale
Wednesday, August 05, 2009
The private equity group that controls the Cal Neva resort at Lake Tahoe has put the property once owned by entertainer Frank Sinatra on the market. Canyon Capital Realty Advisors has hired the Global Gaming Group of Las Vegas-based CB Richard Ellis to market and sell the 83-year-old hotel-casino.
Station Casinos file for bankruptcy
Station Casinos on Tuesday filed for Chapter 11 protection after reaching an impasse in months-long negotiations with creditors on a plan to restructure the gaming company's $5.7 billion debt load.