Penn National Gaming approved to acquire Pinnacle Entertainment

(PRESS RELEASE) -- Penn National Gaming, Inc. announced that at its meeting today, the Indiana Gaming Commission approved the company’s pending acquisition of Pinnacle Entertainment, Inc., subject to customary conditions. The completion of the proposed transaction is contingent on receipt of additional regulatory approvals as well as certain other conditions.

Timothy J. Wilmott, Chief Executive Officer of Penn National Gaming, commented, “We appreciate the diligent work of the Indiana Gaming Commission in their review and approval of our proposed transaction. We look forward to securing additional regulatory approvals in the near term and remain on schedule to complete the transaction in the second half of this year.”

Inclusive of today’s approval from the IGC, Penn National has received approval of its acquisition of Pinnacle Entertainment from six gaming regulatory bodies. In addition, on 29 March, shareholders of both Penn National and Pinnacle Entertainment approved the proposed merger, with over 99% of all votes cast in favor of the transaction.