Take A Chance At Pinnacle Casino And Win Big Today

Take A Chance At Pinnacle Casino And Win Big Today

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Meadows Racetrack & Casino, Pinnacle Entertainment Inc. is one of 16 gaming and entertainment properties operated by Wyomissing-based Penn National Gaming in a $2.8 billion deal announced Monday.

Take A Chance At Pinnacle Casino And Win Big Today

Take A Chance At Pinnacle Casino And Win Big Today

Penn National Gaming Inc. said Monday that it is Las Vegas-based Pinnacle Entertainment Inc., the company that operates The Meadows Racetrack and Casino and 15 other casino properties in the Midwest and Southeast. Wyomissing-based Penn National said the deal is valued at $2.8 billion in a cash and stock transaction.

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The deal, which was approved by the boards of both companies, is expected to close in the second half of 2018. The combination will create an expanded gaming platform for Penn National, already a major regional casino owner.

Pinnacle owns and operates 16 gaming and entertainment properties in 11 jurisdictions in the United States. Following the acquisition of Pinnacle and the divestiture of four of its properties to Las Vegas-based Boyd Gaming Corp., Penn National said it will have a total of 41 properties, operating and significantly more geographically diversified, according to a press release. 20 jurisdictions throughout North America.

The transaction is expected to generate $100 million in annual cost synergies following integration and is expected to provide immediate free cash flow in the first year.

“By combining our highly complementary portfolios and similar operating philosophies, we will be able to leverage the strengths of both of our companies and create an unparalleled experience for our regional gaming customers, while also benefiting our shareholders and business partners,” said Penn. creating significant value for,” said Payne. National Chief Executive Officer Timothy J. Wilmot. “We look forward to welcoming Pinnacle’s talented employees to our team and further strengthening our position as North America’s leading regional gaming operator.”

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Pinnacle has 16,000 employees at its 16 casinos, including 1,300 at The Meadows, which it has operated since September 2015, when former Meadows owner Canary Casino Resorts acquired Gaming and Leisure Properties Inc. had sold the property for $440 million. Under its operating agreement, Pinnacle leases the property from GLPI, which is the landlord for both Penn National and Pinnacle.

The combined company will operate 41 properties in 20 jurisdictions with approximately 53,500 slots, 1,300 tables and 8,300 hotel rooms and will have more than 35,000 employees.

Penn National noted that by combining two of the best customer loyalty programs in the industry, it will be better positioned to drive gaming within its portfolio, particularly at Tropicana Las Vegas and M Resorts in Las Vegas.

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In connection with the transaction, Boyd Ameristar Kansas City and Ameristar St. Charles in Missouri; Belterra Casino Resort in Indiana; and Belterra Park in Ohio for $575 million. The separation will occur immediately prior to the completion of the Pinnacle acquisition.

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Penn National and GLPI will enter into a sale and leaseback of the Belterra Park and Plainridge Park casino properties for approximately $315 million.

Upon closing, GLPI and Boyd will enter into a master lease for the divestitures pursuant to which Boyd will lease the divested property from GLPI.

Penn National will assume the current master lease for Meadows Racetrack and Casino in Pennsylvania and Pinnacle’s current lease.

During a presentation to members of the Washington County Chamber of Commerce in late October, general manager Eli Evangelista said that for 2018 the casino will spend $1.1 million on 50 additional slot machines and $5 million to $9 million to upgrade its food. The goal was to spend in between. and beverage service. The casino also wanted to add to the roster of musical acts for its 2018 summer concert program.

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Under the terms of the $2.8 billion merger agreement announced Monday, Pinnacle shareholders will receive $20 in cash and a Penn National share for each Pinnacle share, for a total purchase price of $32.47 per Pinnacle stock based on Penn National’s Friday closing price. 0.42 shares of the stock will be received. . .

Michael Bradwell has been business editor of The since 1995. He joined the paper in 1990 as a general assignment reporter in the Greene County Bureau and has also served as a copy editor. Discover the pinnacle of senior living in beautiful Scottsdale, Arizona. Clearwater Pinnacle Peak offers a full spectrum of care in a luxurious setting with exclusive amenities and five-star service. Whether you want an independent living community that loves you in every way, or you want the best care for a loved one who needs assisted living or memory care, there’s a perfect fit here at Clearwater Pinnacle Peak.

Our beautiful North Scottsdale community features resort-style amenities, including a saltwater pool, a theater and several beautifully appointed restaurants. We offer a variety of spacious floor plans, including full-size kitchens, high-end finishes and private balcony options. But it’s the high level of comprehensive service that sets us apart. We are dedicated to providing the appropriate level of support for each individual while promoting independence. Why settle for anything less than the best?

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Independent living is a great option for independent living if you still prefer to care for your own home but prefer to live in a community with other seniors. Our independent living residents enjoy many resort-style amenities in their spacious apartments or homes, including dining options at various upscale community restaurants, routine housekeeping services, and all amenities except phone bills. are If you want to enhance your social life, this is the option for you.

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Assisted Living   Assisted Living As we age, the demanding responsibilities of home ownership and independent living become more difficult. Assisted living at Clearwater Pinnacle Peak allows you to enjoy your days without worrying about chores or errands. Our friendly and professional staff are committed to providing you with the best possible care on your own terms while respecting your independence.

Memory Support   Memory Support Our memory support program is designed to provide residents with caregiving care tailored to each individual’s individual needs. Our professionally trained staff will work directly with you and your loved one to ensure they are safe, comfortable and satisfied in a welcoming and easy-to-navigate environment. We place great value on the wishes and needs of individual residents to avoid a clinical, one-size-fits-all approach.

Short Stays Clearwater Pinnacle Peak has a variety of short stay facilities. If your caregiver is going on vacation, you’re recovering from an illness or injury, or you or a loved one wants to see what it’s like to live here, this option is perfect. You or your loved one will have a private and private room with access to all the benefits our community has to offer, including our world-class restaurants, attractive community events and luxurious amenities.

Through years of experience, we at Clearwater have learned that successful aging requires a lifestyle rich in emotional, physical and social experiences. Our Empowered Living program is based on that philosophy and seeks to connect residents to the world through a variety of programs, amenities and events. Our goal is to help each person learn and grow, giving life a greater sense of purpose and meaning.

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Clearwater’s signature Savor Dining program came to recognize that food shouldn’t be an afterthought. Healthy eating is essential for both mental and physical health, and the environment in which food is served is just as important. Our chef-prepared menu of seasonal dishes uses the freshest local produce and features wholesome meals made to order three times a day in a restaurant-style dining room.

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We understand that moving is a big step and finding the right fit is important. At Clearwater Pinnacle Peak, we have years of experience helping residents transition smoothly into their new home. We can help you with everything from setting up your new apartment with all your home treasures to helping you find inspiring enrichment programs and introducing you to like-minded friends. We think you’ll find our welcoming and comfortable atmosphere irresistible, and you’ll soon wonder why you ever lived anywhere else. Sault Ste. The Mary Tribe of Chippewa Indians says it has amassed enough land to build a strong legal case for building a casino complex in an abandoned megachurch near Detroit Metro Airport that would also offer a range of social services for nearby tribal members. will do

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In its filing with the U.S. Department of the Interior, the tribe says it owns 71 acres where the church structure sits on Sibley Road and Huron Township at the now-bankrupt and partially demolished Pinnacle Race Course in Wayne County. There is also a 7 acre tract. Officials once sold horse tracks for $1.

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The tribe purchased 7 acres for a reported $179,000 in 2010 from Pinnacle Track Development Group, which paid $1 for all 320 acres of the original racetrack. The tribe has not said publicly what it plans to do with the seven acres. And

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