Deals
Union Asks Missouri to Block REIT’s Bid for Pinnacle Casinos
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A union representing casino workers asked Missouri regulators to oppose the proposed purchase of Pinnacle Entertainment Corp.’s casinos by real estate investment trust Gaming & Leisure Properties Inc., saying the deal would be anticompetitive.
Gaming & Leisure’s proposal would give the Wyomissing, Pennsylvania-based company ownership of five of the six casinos in the St. Louis market, making up 86 percent of gross revenue, the union said in a March 23 letter to Missouri Gaming Commission Chairman Leland Shurin. Pinnacle has said it is studying the $4.1 billion Gaming & Leisure offer.