Penn National Gaming owns two casinos in South Mississippi and is in talks to acquire Pinnacle Entertainment Inc., which has 16 gambling businesses in 10 states including Mississippi.
Pinnacle Entertainment issued a press release Thursday confirming it is talking with Penn National about acquiring Pinnacle in a cash and stock transaction.
Penn National, based in Pennsylvania, owns Boomtown Biloxi and Hollywood Gulf Coast Casino in Bay St. Louis, along with three other casinos in Tunica. The company also has casinos in 15 other states plus one in Ontario, Canada.
Pinnacle operates Ameristar Casino Hotel Vicksburg in Mississippi plus casinos in Bossier City, Harvey, Baton Rouge and Lake Charles, Louisiana. The company also has casinos in Colorado, Indiana, Iowa, Missouri, Nevada, Ohio and Pennsylvania. Pinnacle holds 75 percent interest in the racing license and a management contract for Retama Park Racetrack outside San Antonio, Texas.
Anthony Sanfilippo, CEO and chairman of the board of Pinnacle Entertainment, spoke at the Southern Gaming Summit in Biloxi in 2010 and again in 2016.
“We’re really in the business of creating magical and memorable moments,” he told the casino operators and staff during the keynote speech.
These discussions with Penn National may not lead to an agreement, Pinnacle cautioned in the press release, or if an agreement is reached that the transaction will be completed.