Pinnacle Entertainment Comments on FTC's Complaint, Says they are 'Commited to Completing the Transaction'
Pinnacle Entertainment (NYSE: PNK) today commented on the administrative complaint issued by the Federal Trade Commission ("FTC") regarding Pinnacle Entertainment's proposed acquisition of Ameristar Casinos. According to the FTC's press release, the administrative complaint alleges that the combination of the two companies will lessen competition in the St. Louis and Lake Charles areas.
"We are disappointed by the FTC's decision to issue an administrative complaint regarding our proposed acquisition of Ameristar Casinos," said Anthony Sanfilippo, CEO of Pinnacle Entertainment. "We continue to believe that the merger of these two gaming-entertainment property portfolios would not have any adverse effect on competition in any of the geographies in which the combined company would operate, and remain excited about the compelling benefits that the merger will provide to our guests, team members and shareholders. We are committed to completing the transaction as expeditiously as possible and in the time frame agreed upon with Ameristar," said Sanfilippo.
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