Louis, MO Kansas City, MO Council Bluffs, IA Black Hawk, CO Vicksburg, MS East Chicago, IN and Jackpot, NV. The acquisition of Ameristar's properties will complement Pinnacle's existing portfolio by adding eight casino-resorts in some of the nation's best gaming markets, including: St. Pinnacle will benefit from increased operational and geographic diversity by more than doubling in size to 17 operating properties in 13 distinct geographies.
The transaction has received the unanimous approval of both the Ameristar and Pinnacle Boards of Directors. This consideration represents a premium of 45% over the average closing price of Ameristar common stock for the 90 days ended December 20, 2012. (Nasdaq GS: ASCA) announced today that the companies have entered into a definitive agreement under which Pinnacle will acquire all of the outstanding common shares of Ameristar for $26.50 per share in cash, for a total enterprise value of $2.8 billion, including debt of $1.9 billion and cash on hand of $116 million as of September 30, 2012.
LAS VEGAS, NV, DecemPinnacle Entertainment, Inc. Expected to be accretive to Pinnacle's free cash flow and earnings per share. Transformative transaction creates a best in class gaming platform with increased diversification and significant efficiencies of scale.
