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Indiana Casino Workers Challenge Pinnacle Entertainment Casino Purchase

An branch that is indiana-based of casino workers union is opposing the proposed purchase of gambling venues owned by Pinnacle Entertainment Inc. to Gaming & Leisure Properties Inc. The casino workers are also about to ask the Indiana Gaming Commission to show straight down the plan, arguing that the offer could possibly supply the operator more rights than state laws and regulations really allow.

Underneath the current Indiana gaming legislation, confirmed operator is allowed to own a maximum of two casino properties in the state’s borders. Gaming & Leisure manages one video gaming center in Lawrenceburg and Pinnacle has two such facilities in Florence and East Chicago.

Las Vegas-headquartered gambling operator Pinnacle announced previously this plans to sell all 14 casinos it manages to Gaming & Leisure year. The latter is to pay the amount of $4.8 billion for the transaction. Generally speaking, the offer is the type of when a given gambling operator sells its venues or converts them into REIT, to avoid having to pay federal taxes and so, trade the said venues at a stock market value that is higher.

The Indiana Gaming Commission is defined to talk about the problem today at 1 pm regional time. a spokesperson for the state gambling regulator could never be reached for remark.

Casino employees from the UNITE HERE hospitality workers union have been in a long-standing dispute with Pinnacle’s casino in East Chicago. Read more »