Penn National to acquire Pinnacle Entertainment

December 18, 2017 at 10:12a.m.

AUSTINTOWN — Penn National Gaming, which owns Hollywood Gaming at Mahoning Valley Race Course in Austintown, said it will acquire Pinnacle Entertainment for $2.8 billion.

Pinnacle owns and operates 16 gaming and entertainment facilities in 11 states. Penn National plans to sell four of the Pinnacle properties to Boyd Gaming Corp.

Boyd will purchase Pinnacle’s gaming operations at Ameristar Kansas City and Ameristar St. Charles in Missouri; Belterra Casino Resort in Indiana; and Belterra Park in Ohio, for about $575 million in cash.

When the acquisition is complete, Penn National will have “significantly” greater operational and geographic diversity and operate a combined 41 properties in 20 jurisdictions throughout North America, the company said.