Indiana Casino Workers Challenge Pinnacle Entertainment Casino Sale

Indiana Casino Workers Challenge Pinnacle Entertainment Casino Sale

An branch that is indiana-based of casino employees union is opposing the proposed purchase 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 program, arguing that the deal may possibly give the operator more rights than state legislation really enable.

Under the current Indiana video gaming legislation, a given operator is permitted to own no more than 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 earlier this plans to sell all 14 casinos it manages to Gaming & Leisure year. The latter is always to pay the amount of $4.8 billion for the deal. broadly speaking, the offer is those types of in which a provided gambling operator sells its venues or converts them into REIT, to prevent paying federal income taxes and so, trade the said venues at a stock market value https://4scasino.com/ that is higher.

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

Casino workers through the UNITE HERE hospitality workers union will be in a dispute that is long-standing Pinnacle’s casino in East Chicago. Continue reading Indiana Casino Workers Challenge Pinnacle Entertainment Casino Sale