Pinnacle Makes FTC Deal To Clear $2.8B Casino Purchase

Law360, New York (June 17, 2013, 5:19 PM EDT) -- The Federal Trade Commission and Pinnacle Entertainment Inc. reached a proposed agreement Monday to clear the hotel and casino operator's $2.8 billion acquisition of rival Ameristar Casinos Inc. amid antitrust concerns after Pinnacle agreed to jettison several properties.

To gain clearance for the acquisition, Pinncale said it would sell an Ameristar hotel and casino development project in Lake Charles, La., as well as Pinnacle's Lumiere Place Casino, HoteLumiere and the Four Seasons Hotel in St. Louis. The commission must still sign off on the agreement before...
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