FTC Approves Plan To Clear Pinnacle's $2.8B Casino Buy

Law360, Los Angeles (August 12, 2013, 8:29 PM EDT) -- Pinnacle Entertainment Inc. and Ameristar Casinos Inc. have agreed to sell casino properties in St. Louis and Lake Charles, La., to settle Federal Trade Commission charges that Pinnacle’s $2.8 billion acquisition of rival Ameristar would be anti-competitive, the FTC announced Monday.

FTC commissioners voted 4-0 to accept the consent agreement package. To gain clearance, Pinnacle will sell its Lumiere Place Casino and associated assets in St. Louis to a buyer approved by the FTC within six months. If that property is not divested in the required...
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