Indiana Casino Workers Challenge Pinnacle Entertainment Casino Purchase

Indiana Casino Workers Challenge Pinnacle Entertainment Casino Purchase

An branch that is indiana-based of casino employees union is opposing the proposed sale of gambling venues owned by Pinnacle Entertainment Inc. to Gaming & Leisure Properties Inc. The casino workers are planning to ask the Indiana Gaming Commission to turn straight down the master plan, arguing that the offer may possibly supply the operator more legal rights than state guidelines really enable.

A given operator is allowed to own no more than two casino properties within the state’s borders under the current Indiana gaming laws. Gaming & Leisure manages one video gaming center in Lawrenceburg and Pinnacle owns two facilities that are such Florence and East Chicago.

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

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

Casino employees through the UNITE HERE hospitality workers union have been around in a dispute that is long-standing Pinnacle’s casino in East Chicago. Continue reading “Indiana Casino Workers Challenge Pinnacle Entertainment Casino Purchase”