Penn National Gaming gets approval from Colorado Division of Gaming

(PRESS RELEASE) -- Penn National Gaming, Inc. announced that at a meeting today, the company received approval from the Colorado Division of Gaming (CDG) in connection with its 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, commented, “We are grateful to the Colorado Division of Gaming for their work and comprehensive review of the application and filings related to our pending transaction with Pinnacle Entertainment. With just a few requisite regulatory hearings remaining, we remain on schedule to complete the transaction early in the fourth quarter.”

Inclusive of the approval from the CDG, Penn National has received approvals from 13 gaming regulatory bodies in connection with its proposed acquisition of Pinnacle Entertainment. In addition, on March 29, shareholders of both Penn National and Pinnacle Entertainment approved the proposed merger, with over 99% of all votes cast in favor of the transaction.