FTC Clears Pinnacle's Plan For $2.8B Ameristar Buy

Law360, New York (December 20, 2013, 1:22 PM EST) -- The Federal Trade Commission on Thursday formally approved a plan from Pinnacle Entertainment Inc. to sell off casino properties in Missouri and Louisiana, settling the agency's concerns that the company's $2.8 billion acquisition of Ameristar Casinos Inc. would hinder competition in those markets.

In a 4-0 vote, the commissioners endorsed a proposed order first unveiled by the parties in August. The order requires Pinnacle to sell its Lumiere Place Casino and associated assets in St. Louis to a buyer approved by the FTC within six months. If...
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