Pinnacle gets approval to acquire The Meadows Racetrack and Casino
The Pennsylvania Gaming Control Board has approved a deal that will allow Pinnacle Entertainment Incorporated acquire the casino and racetrack operations at The Meadows Racetrack and Casino.
US.- The Pennsylvania Gaming Control Board has approved a deal to allow Pinnacle Entertainment Incorporated acquire the casino and racetrack operations at The Meadows Racetrack And Casino from Gaming And Leisure Properties Incorporated in a US$138 million transaction.
The Pennsylvania Gaming Control Board’s approval represents the final regulatory obstacle required for Pinnacle Entertainment Incorporated to complete its acquisition of the Pennsylvania casino, after the company was granted last month with a receipt of consent from the Pennsylvania Harness Racing Commission.
The Meadows Racetrack and Casino is located about 25 miles southwest of downtown Pittsburgh. It opened in 2007 and offers 3,170 slots alongside 74 gaming tables and an eleven-table poker room in addition to a 5/8-mile harness racing track with a 500-seat grandstand. There are also eleven on-site restaurants, bars and lounge outlets, an 11,000 sq ft events center and a 24-lane bowling centre while. Hotel accommodation is provided by the attached but separately managed 155-room Hyatt Place hotel.
“We thank the Pennsylvania Gaming Control Board and the Pennsylvania Harness Racing Commission for their diligence, professionalism and experience in reviewing and approving The Meadows transaction,” said Anthony Sanfilippo, Chief Executive Officer for Pinnacle Entertainment Incorporated. “We are excited to expand our company into the state of Pennsylvania and the greater Pittsburgh metropolitan area and look forward to welcoming the guests and 1,300 team members of The Meadows into the Pinnacle Entertainment Incorporated family.”
